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Cameron Paul Johnson 1987-2022 Cameron Paul Johnson unexpectedly passed away on 4/25/2022 at the young age of 34. Cameron was born 5/1/1987 to Vanessa Johnson. He lived in a variety of places throughout his time. He began his childhood in South Dakota and eventually made his way to Cheyenne, Wyoming where he touched many lives. Cameron always considered Cheyenne his home. Cameron ventured to Oregon where he achieved his pharmacy technician license. He recently settled down in New Mexico where he continued to make a positive impact on those that he encountered. Cameron's interest where his beloved and most stubborn horse Zeus, he loved cats, creating amazing barbeque masterpieces on his grill or smoker, rainbows, music and his baby sister Karly Jo. Cameron is proceeded in death by his mother Vanessa Johnson, Aunt Ilene, Cousin Stacy and his Grandparents Joe and Lupe. Cameron is survived by his sisters Karly Jo, Sarah, Rachel and Tirzah, his Aunts Sally Jo, Rita Tammy and Theresa, as well as many cousins and extended family and friends. A celebration of life will be held on May 14th in Cheyenne, Wyoming. For more information please contact his sister Karly Jo @ 605-389-2911.
To plant a tree in memory of Cameron Johnson as a living tribute, please visit Tribute Store. | https://www.wyomingnews.com/milestones/obituaries/johnson-cameron-paul/article_0ddf6f63-a77e-5335-96af-e773b77a0742.html | 2022-05-11T01:52:48Z |
JAMES LEWIS KEENAN 1947-2022 James Lewis Keenan, 75, passed away on Wednesday, April 27, 2022 at his home in Wheatland, Wyoming of natural causes. James Keenan was born on Friday, February 21, 1947 in Rock Springs, Wyoming the son of Frank J. and Vivian M. (Tracy) Keenan. James was a longtime resident of Cheyenne, Wyoming where he worked for the Wyoming State Highway Department and later retired from there. James was married to Linda Sawicki on August 21, 1983. In 2019 James moved to Wheatland to be closer to his sister. James was an avid bowler, winning the state bowling championship in 1969 and the team championship in 1994 and 1995, loved to go golfing, and was proud of his longtime membership in AA. James is survived by his siblings, Sue (David) Clark of Wheatland and Bill (Susan) Keenan of Sun City West, Arizona; sister-in-law, Cindy Keenan of Riverton, Wyoming; and seven nieces and nephews. He was preceded in death by his wife Linda Keenan on April 8, 1993 and brother, Don Keenan in 2010. In honor of James go play a round of golf or tell your favorite story of him at an AA meeting. The Gorman Funeral Homes – Platte Chapel of Wheatland are in charge of the arrangements. Condolences may be sent to the family at www.gormanfh.com
To plant a tree in memory of JAMES KEENAN as a living tribute, please visit Tribute Store. | https://www.wyomingnews.com/milestones/obituaries/keenan-james-lewis/article_f02af9c0-b490-5448-89a4-7c521378447f.html | 2022-05-11T01:52:54Z |
Steven L. Roberts 1947-2022 Steven L. Roberts, 75, a native of Wyoming, retired employee of the United States Postal Service, and long-time resident of Cheyenne, died May 5, 2022, of complications from diabetes in Cheyenne Regional Medical Center. Born Feb. 22, 1947, in Lusk, Wyoming, he was the eldest son of the late Leslie J. and LaVerne E. (Johns) Roberts. He attended public schools in Lusk and Torrington, Wyoming; New Plymouth, Idaho; Thermopolis and Worland, Wyoming. He graduated from Cody High School in 1965, later attending Northwest College in Powell, Wyo., and the University of Wyoming. He served two years in the U. S. Army, was stationed in Germany, and was discharged with the rank of sergeant in 1971. He returned to the University of Wyoming, and following his graduation, he taught and coached at Goshen Hole High School in Veteran, Wyo., moving to Moorcroft High School in Moorcroft, Wyo., the following year. After working for Blue Cross/Blue Shield of Wyoming in Cheyenne, he earned a master's degree in Education from the University of Arizona in Tucson. He was employed as a human relations specialist by the U. S Postal Service in Tucson and in Denver at the Colorado/Wyoming District Office. After a long career, he retired and returned to Wyoming in 2009, locating in Cheyenne. A member of the First Presbyterian Church in Cheyenne, he was a member of many professional and civic organizations, including the UW and UA Alumni associations, the Cowboy Joe Club, the National Association of Retired Federal Employees, the VFW, the American Legion, the Wyoming Mayflower Society, and the Wyoming State Historical Society. He was a co-author, with his two brothers, of the Wyoming Almanac, now in its 7th edition. His assistance was crucial in the earliest production of the Medicine Bow Post newspaper in Medicine Bow, Wyo. He enjoyed travel, including to Scotland, Sweden, and other countries. He was predeceased by his parents, and is survived by two brothers, Phil, of Laramie, and David L., of Macon, Missouri; a sister-in-law, Peggy, of Laramie; and many relatives and friends. Memorial donations can be made to the Niobrara County Public Library in Lusk or to a charity of choice. At his request, no formal services will be held, but an informal memorial service will be held later in the summer. Burial will be in the Lusk Cemetery. Pier Funeral Home is in charge of arrangements.
To plant a tree in memory of Steven Roberts as a living tribute, please visit Tribute Store. | https://www.wyomingnews.com/milestones/obituaries/roberts-steven-l/article_e6aaf460-ec07-584e-a7f9-d72b5bac5317.html | 2022-05-11T01:53:00Z |
John Gardner Wilen 1941-2022 John Wilen Lenoir - John Gardner Wilen, age 80, went home to be with the Lord on Sunday, May 1, 2022 at his residence. He was born in Sioux City, Iowa on July 8, 1941 to the late John E. Wilen and Mildred Gardner Wilen. He was married to Madelyn Cowan Wilen of the residence for 56 years. John retired from the United States Air Force after 20 years of service. During this time, he received the Bronze Star, Air Force Commendation Medal and the Meritorious Service Medal. He later worked for 21 years at Labat as a Project Manager for Military Environmental Records. John graduated from the University of Wichita with a Bachelor of Music Education; Ball State University with a Master of Arts; University of Nebraska with a Master of Science; and he became a Master Gardener in 2017. In addition to his wife, John is survived by his daughter, Candace W. McLean and husband, Daniel "Dennis" McLean, IV; grandchildren, Daniel McLean, V and wife, Celeste; Zachary McLean and wife, Natelie; and Shayla-Grace McLean; great-grandchildren, Flora, Fauna and Fergus; brother, Michael Wilen and wife, Christine of Sterling, IL; two nieces and their families; and brother-in-law, Donald Cowan of Rockledge, FL. The memorial service for John will be private. Online condolences may be sent to www.evansfuneralservice.com Evans Funeral Service & Crematory is serving the Wilen family.
To plant a tree in memory of John Wilen as a living tribute, please visit Tribute Store. | https://www.wyomingnews.com/milestones/obituaries/wilen-john-gardner/article_865a3159-7b35-5944-a1e4-acd4559d2b1a.html | 2022-05-11T01:53:07Z |
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SHERIDAN — The Wyoming Legislature’s Joint Revenue Committee will spend a portion of its interim session considering whether to increase the state’s cigarette tax for the first time since 2003.
During its first meeting of the interim in Lander April 28, the committee voted to create a bill draft to be considered at its next meeting in September. The draft will have a placeholder number, with the actual amount of the tax increase to be determined during the September meeting, legislators said. Ideas shared at the April meeting ranged from increasing the tax by a few cents to doubling it. Currently, the tax sits at 60 cents for a 20-cigarette pack.
The state cigarette tax was first implemented in 1951, when it was $0.001 per cigarette, or just two cents for a 20-cigarette pack, according to an April 7 memo from the Legislative Service Office. Since then, it has been raised on several occasions. Most recently, it was raised in 2003 to the current rate.
Wyoming remains behind most other states in its cigarette tax rate, and is currently tied with Virginia for 44th lowest cigarette tax, according to a January 2022 report from the Federation of Tax Administrators. Only Georgia, Idaho, Missouri, North Dakota and North and South Carolina have lower cigarette tax rates.
Currently cigarette taxes run the gamut from 17 cents for a 20-cigarette pack in Missouri to $4.35 for a pack in New York, according to the FTA.
While he doesn’t feel the need to approach a New York level of taxation, Sen. Stephan Pappas, R-Cheyenne, said he felt the time was right for the increase.
“I’m interested in bringing tobacco taxes higher to curb usage of tobacco,” Pappas said. “… I think we ought to think about raising them to a point where it becomes difficult for our youth to purchase them. … I, for one, believe we should increase it. I’m to the point where I think we should double it. But again, we can discuss that number at a later date.”
Similarly, Richard Garrett — the Wyoming and South Dakota state government relations director for the American Heart Association — said the time is right to enforce a “meaningful” cigarette tax.
“If you do consider … an amendment to the existing tax, I’d urge you to make it a meaningful one: a tax that will deter young people, in particular, from adopting … a habit that can impact their health for the rest of their lives,” Garrett said. “Our research shows us a meaningful tax truly does have an impact on reducing tobacco consumption by teenagers, in particular.”
According to a 2020 National Institutes of Health report, every 10% increase in the price of tobacco is expected to decrease tobacco consumption by 4%.
Marguerite Herman, legislative liaison for the League of Women Voters, said a decrease in consumption would lead to a significant increase in public health.
“There’s an argument to be made that … the real payoff is the number of adolescents who do not start to smoke (and form) a lifelong addiction with huge health impacts, and a big impact on the public health costs to the state of Wyoming,” Herman said.
Smoking can cause cancer, heart disease, strokes, lung diseases, diabetes and chronic obstructive pulmonary disease, according to the Centers for Disease Control and Prevention. Smoking also increases the risk for tuberculosis, certain eye diseases and problems of the immune system, including rheumatoid arthritis.
In addition to the positive health impacts that could come with a tax increase, the change could be financially beneficial for the state, as well.
Cigarette tax revenues are currently distributed 85% to the state’s general fund and 15% to local governments, and both would see an increase in funding if the tax was increased, said Josh Anderson with the Legislative Service Office. According to a 2021 report of the Department of Revenue, the cigarette tax resulted in $13.03 million to the general fund and $2.30 million to local governments in 2021 alone.
The proposed increase to the cigarette tax will be discussed again at the Joint Revenue Committee’s next meeting in Casper on Sept. 14 and 15. | https://www.wyomingnews.com/news/from_the_wire/legislative-committee-considering-increasing-cigarette-taxes-for-first-time-since-2003/article_9d9671ca-66e4-51f8-82a3-6d7705937c36.html | 2022-05-11T01:53:19Z |
RAWLINS – Carbon County Prosecutor Ashley Mayfield Davis has asked Carbon County Circuit Court Judge Susan Stipe to dismiss a second round of indictments against three Missouri hunters whom a jury found not guilty of corner crossing.
Mayfield Davis filed the motion to dismiss criminal trespass and trespassing to hunt charges against Brad Cape, Zach Smith and Phillip Yeomans on May 4. The judge had not yet signed an order dismissing the new charges as requested, but is expected to next week, a clerk at the court in Rawlins said.
A Carbon County jury found the three men, plus companion John Slowensky, not guilty on April 29 of a 2021 corner crossing incident at the Elk Mountain Ranch owned by North Carolina resident Fred Eshelman. Just before the trial started, Mayfield Davis served three of the men with a summons to appear at an arraignment on similar charges, but relating to a hunting excursion in 2020.
Mayfield Davis wants that arraignment canceled and the 2020 charges dismissed.
“The essential facts in this matter were considered by the Jury,” the motion reads. “Rather than submitting the same evidence to another Jury, the State believes a dismissal would be in the interest of judicial economy and would ask the Court to dismiss the Information [charges] without prejudice.”
Without prejudice means the case could be filed again.
Corner crossing is the act of stepping from one piece of public property to another at the common of two private pieces, all arranged in a checkerboard pattern. The hunters, in both instances, said they never touched Eshelman’s private land.
Their trial for the 2021 incident lasted three days. A jury found them not guilty in fewer than two hours.
Just before jury selection began in last month’s trial, a Carbon County Sheriff’s Office deputy served three of the men with summons for new charges. It asked them to appear at a June 6 arraignment in Rawlins.
Mayfield Davis’ latest motion asks that the judge vacate that scheduled arraignment.
The men killed one elk in 2020 and two elk and a deer in 2021, court documents state. Eshelman’s Iron Bar Holdings owns the Elk Mountain Ranch that stretches across more than 20,000 of Carbon County’s Elk Mountain.
Across the West, some 8.3 million acres of public land are “landlocked” by any definition that corner crossing is illegal. A separate civil case, brought by Eshelman, is being considered in federal court where federal public land access laws could come into play.
The checkerboard pattern of land ownership – a construct of the railroad building era – makes accessing public Bureau of Land Management and Wyoming School Trust land difficult without trespassing or corner crossing. The men used a Global Positioning Satellite map app to locate surveyed section-corner monuments before they corner crossed, testimony and evidence showed.
They documented each monument and crossing point digitally, according to court documents and testimony. In 2021, they used a fence ladder to climb over two T-posts – driven in the two separate Elk Mountain Ranch sections and chained together – to go from one BLM section to another without setting foot on private land.
Mayfield Davis had argued that passing through the airspace above Eshelman’s property constituted trespass.
WyoFile is an independent nonprofit news organization focused on Wyoming people, places and policy. | https://www.wyomingnews.com/news/local_news/prosecutor-seeks-to-drop-new-charges-in-corner-crossing-case/article_811f385b-bf4a-50db-84c8-ae4654d6f8bb.html | 2022-05-11T01:53:25Z |
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Powell Tribune
POWELL – Jenny Catone and her kids thought it would be fun to head to Yellowstone National Park’s East Entrance for the season opener. They were so excited about their first adventure in their new-to-them vehicle that they left Powell at 7 the night before the gates swung open.
“We got here last night about 8:30 and slept in the van,” she said with a happy smile and showing no ill effects from the experience.
They wanted to get to the gate to experience sunset, but chores slowed their departure. Early that morning, Catone saw a dark shadow moving toward the family van parked near Yellowstone’s famous wooden sign.
“I was just kind of looking out, and I just saw this black form,” Catone said. “I was like, oh my God, it almost looks like a gorilla.”
Her children, Tommy, Lily and Sophia, thought she was making it up, Catone said.
But the bear was close, as they soon smelled. The bruin was in serious need of a bath, they said, commenting on the large, stinky beast sniffing around outside the doors of the vehicle. The sight ended all outdoor exploration until sunrise.
“Nobody was going to the bathroom,” Catone said, adding, “I slept with bear spray on my lap.”
Their arrival would have allowed the family to be first in line for the season opening during Yellowstone’s 150th anniversary celebration.
Catone wasn’t sure of the rules for parking in front of the gate, so they used the wide pull-out to wait for a sign. That sign was Stacy Boisseau and her crew passing them to take the first spot in front of the locked red-and-white swing arm. It’s the fourth year in a row the family was able to get the coveted spot.
Being first in line is serious business for the family.
Boisseau was coy with their schedule, attempting to protect their travel secrets. But she failed to swear Catone to secrecy, who said Stacy had arrived around 9:30 p.m.
Shortly before 8 the next morning, the Boisseau and McIntosh family piled out of their two vehicles and proceeded to get group photos.
“It’s a family tradition,” Boisseau, a waitress at the 8th Street at the Ivy restaurant, said while pouring a cup of steaming hot coffee from a thermos in the back of their over-packed SUV.
By the time Jeff Moynihan, the lead recreation fee technician on this end of the park, radioed headquarters that the gate was officially open, the line of trucks and cars waiting for their chance to get into the park snaked around the curve into Shoshone National Forest. He has been living at Yellowstone since shortly before Christmas, forced to snowmobile to work – at times at the North Entrance adjacent to the Roosevelt Arch.
Moynihan is originally from Massachusetts, and being a park ranger runs in the family. His parents both worked for the National Park Service’s Cape Cod National Seashore. He got his start at Cape Cod, then moved to Wyoming for his new job in 2021. It wasn’t easy. With snow already blocking the road to his new home at the entrance, he was forced to make several trips carrying his gear by snowmobile, his first experience in over-snow travel.
“I made, like, five trips back and forth from Cody to the entrance. And then, throughout the winter, it was just a really great experience getting to learn to snowmobile for the first time with the great rangers we had out here with us for the winter season,” Moynihan said.
Through the winter, Moynihan experienced quite a few wildlife sightings, including a great gray owl.
He’s excited for the end of the month, when the road across Dunraven Pass will finally be reopened. The road is tentatively scheduled to open May 27, pending snow-removal operations, he said.
“I’ll finally get to go to Mount Washburn and hike up there,” he said.
Constant trips across the park were exciting for the new full-time employee.
“We’re ready, and we’ve got everything set up to go,” Moynihan said as he prepared for his first customers of the season. “The main thing in the spring, as always, we have Sylvan Pass over here. Conditions are variable every day. If it’s a sunny spring day, a lot of snow starts to melt that loosens up the pack. So there’s avalanche danger.”
He also pointed out the many events scheduled for the park’s 150th anniversary.
“It’s big year, with lots of events going on,” Moynihan said.
Wyoming Gov. Mark Gordon was on hand Friday at Old Faithful to help kick off the celebration.
“You can feel the magic of this place and why people said we need to preserve this,” he said for news crews covering the event.
The world-famous site became the first national park in the U.S. on March 1, 1872, when President Ulysses S. Grant signed the Yellowstone National Park Protection Act into law.
Officials, including Park Superintendent Cam Sholly, opened the newest exhibit in the park: The Tribal Heritage Center. The facility is one of several initiatives commemorating the anniversary – part of a larger effort to work with tribes to expand their presence and better represent Indigenous connections to the park during its sesquicentennial celebration.
“Yellowstone’s 150th anniversary is an important moment in time for the world,” Sholly said. “It’s an opportunity for us to reflect on the lessons of the past while focusing our efforts to strengthen Yellowstone and our many partnerships for the future. I applaud and share the vision of Secretary Haaland and Director Sams on our responsibility to more fully engage with tribal nations to honor and learn from their ancestral and modern connections to Yellowstone.”
The park will host and participate in a wide range of activities to commemorate the 150th anniversary, according to a recent press release.
“The park has conducted substantial outreach to Native American Tribes, inviting them to participate directly in this anniversary. Multiple Tribal Nations will be present throughout the summer at Old Faithful as part of the Yellowstone Tribal Heritage Center project,” the release said.
Regional tribes are also coordinating with Yellowstone to install a large tepee village in the park near the Roosevelt Arch in August, where tribal members will interact directly with visitors about their cultures and heritage. The University of Wyoming College of Law and Haub School of Environment and Natural Resources will host a symposium marking the park’s anniversary May 19-20.
The two-day event is open to the public both in person and online and will feature prominent figures from the National Park Service and elsewhere within the Department of the Interior, including numerous Yellowstone-associated Native American Tribes.
They will be joined by a host of academics, scholars, scientists, and other participants. The historic event will explore the goals, successes, and shortcomings of the park over the past 150 years and look to the future to examine key issues it now faces.
To register for the symposium: http://www.uwyo.edu/haub/ruckelshaus-institute/forums/ynp-150th-symposium/index.html. | https://www.wyomingnews.com/townnews/transports/east-gates-swing-open-for-yellowstone-s-season-opener/article_a60bb2b5-2570-54f6-90aa-dc1b5ce38b1a.html | 2022-05-11T01:53:38Z |
The University of Wyoming track and field teams will begin competition today at the Mountain West Outdoor Track and Field Championships, which will run through Saturday in Fresno, California.
The Cowboys and Cowgirls will get started with the heptathlon and decathlon this afternoon. The first day of the decathlon, scheduled to begin at 4 p.m., will see athletes compete in the 100-meter dash, the long jump, shot put and high jump, before finishing the day with the 400m. The event will conclude on Day Two of the championships with the 110m hurdles, discus, pole vault, javelin and 1500m.
Day Two of the championships will feature the women’s and men’s 10,000m, starting at 9:30 a.m. and 10:10 a.m., respectively.
Friday will be the first full slate, with finals taking place in the hammer throw, long jump, high jump, pole vault and shot put. Those field events begin at 2 p.m. and conclude with the women’s shot put, which is set to start at 7 p.m. Things will get started on the track at 5 p.m. with qualifying, with the steeplechase being the only final run on Friday.
Saturday will feature finals in all other track events, as well as the discus, javelin, triple jump, and women’s high jump. The final day of competition will start at 2 p.m., with a full schedule of events at GoWyo.com.
Shayla Howell and Kareem Mersal are the favorites to finish on top of the long jump after a season that saw Mersal claim the top all-time mark at UW, while Howell competed at the Indoor NCAA Championships and moved up to No. 2 all-time. Both Howell and Mersal come into the week at Fresno with the No. 1 jumps in the conference, with Howell ranking 7th on the NCAA West Outdoor qualifying list, and Mersal sitting at 8th. Hunter Brown ranks No. 2 in the conference on the men’s side with a best jump of 24-3 this season.
Nathan Reid has a chance to podium on the men’s side of the discus, with his best throw of 181-11 this season ranking No. 10 on UW’s all-time list. Tarique George ranks fifth in the conference at 175-5, while Mikey DeRock is No. 7 in the shot put. On the women’s side, Addison Henry ranks 5th in the MW in the shot put, while Mary Carbee is sixth in the hammer throw and Cosette Stellern is eighth in the discus.
Katelyn Mitchem leads the distance runners heading into the meet with a No. 4 mark in the conference in the 3000m steeplechase. Mitchem has continued to set personal bests as the season has gone on, and comes in with a time of 10:21.03. Leah Christians set the No. 2 all-time mark at Wyoming this season in the 10000m, and is No. 7 in the MW at 34:14.69. Albert Steiner leads the men in the same event with the No. 5 time in the conference, followed by Seth Bruxvoort at No. 8.
Other top-eight marks in the conference include: Jefferson Danso in the triple jump (No. 4); Joseph Rodgers in the 800m (No. 8); Samuel Schneider in the high jump (No. 6); Jaheim Ferguson in the 400m hurdles (No. 6); Wyatt Moore in the 100m (No. 6) and Aumni Ashby in the triple jump (No. 8).
Wyoming is looking to follow up a solid all-around performance at last year’s MW championships, during which it placed fourth — the program’s best team finish since 2000. | https://www.wyomingnews.com/uw-set-to-compete-at-mw-championships/article_1f15b1fe-9290-584a-9765-68f5aa5ad7e2.html | 2022-05-11T01:53:44Z |
‘He would have gotten them again’: 2 children, mother attacked by neighbor’s pit bull
BERKELEY COUNTY, S.C. (WCSC/Gray News) - A family in South Carolina is trying to recover after a neighbor’s pit bull attacked them last month.
WCSC reports Bethany Hastings’ neighbor with dementia wandered onto her property on April 26 and needed help getting back home. Hastings said she and her two children got into their golf cart and helped the woman back home.
However, once they got to the neighbor’s house, they noticed her pit bull was loose. Hastings said the dog ran outside and jumped on the golf cart.
First, the animal attacked her 2-year-old son and then her 4-year-old daughter, Lainey Bayles.
“First he got my brother, and then second he got me and then third he got my mom,” Lainey said.
Hastings, a nurse, said she was able to stop the dog from attacking her kids again by holding him down for 15 “terrifying” minutes until help arrived.
“I didn’t have a choice,” she said. “If I had let go, he would have gotten them or me again.”
Hastings said a neighbor arrived about five minutes before emergency crews and pulled her children into his truck to help. She called him their “hero.”
According to a report from the Berkeley County Sheriff’s Office, the three were transported to a local hospital for treatment.
Hastings and her son were able to be released from the hospital that evening, but Lainey sustained the most severe injuries and spent four days at the medical center.
“They hadn’t quite seen anything like that before to that extent, with that much damage,” she said.
Hastings said over the next year, Lainey will have to go through several different procedures to correct the injuries to her face.
“I thought she’d wind up at the hospital maybe for a broken bone or something like that, but never this,” Hastings said.
After the attack, the family said it’s been hard navigating their new fear of just being outside.
“After that, you realize just how vulnerable you are to everything,” Hastings said.
She also said she hopes their story is a reminder that if you have a dog that could cause any sort of harm, you should keep it contained so it can’t hurt anyone.
The pit bull has since been euthanized, according to Hastings.
Copyright 2022 WCSC via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/11/he-would-have-gotten-them-again-2-children-mother-attacked-by-neighbors-pit-bull/ | 2022-05-11T02:29:14Z |
Nurses Week: Crocs helping to give 10K pairs of shoes, scrubs to healthcare workers
(Gray News) - Crocs is again offering its “Free Pair for Healthcare” program during National Nurses Week.
The innovative casual footwear company is partnering with FIGS to give 10,000 pairs of Crocs and 10,000 pairs of scrubs away to healthcare workers.
Those in the healthcare field can register for the giveaway bundle through Crocs’ website or FIGS online until May 12 at noon Eastern Standard Time.
A Crocs spokesperson said the company’s initiative was first launched in 2020 to thank and celebrate healthcare heroes for their extraordinary efforts in the battle against the COVID-19 pandemic.
Since March 2020, Crocs reports it has donated nearly 1 million pairs of shoes to healthcare workers globally.
“We are humbled to have seen such a positive response to ‘Free Pair for Healthcare’ over the past two years and are thrilled to continue supporting and celebrating our healthcare heroes in partnership with FIGS,” said Andrew Rees, CEO of Crocs.
Additional information about the program is also available here.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/11/nurses-week-crocs-helping-give-10k-pairs-shoes-scrubs-healthcare-workers/ | 2022-05-11T02:29:21Z |
SÃO PAULO, May 10, 2022 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV), announces its results for 1Q22.
Highest net revenue growth in 7 years, led by a historic mark of 100 million total accesses.
Mobile Service Revenue grew 5.7% YoY led by Postpaid Revenue which increased 5.9% on a yearly comparison. Revenue expansion was driven by 1.3 million new customers in the postpaid segment during the last quarter.
Total accesses reached 100 million accesses, +4.1 million compared to 1Q21. Core services subscribers account now for 91.9% of all accesses, a 2.3 p.p. YoY increase.
Vivo reached 4.8 million (+29.1% YoY) homes connected with FTTH. Currently, Vivo's FTTH coverage is available in 341 cities (+14 cities in 1Q22), with 20.5 million homes passed.
Net revenue increased +4.6% YoY, registering Vivo's largest revenue growth in 7 years, with an astonishing representativeness of the core businesses which now accounts for 90.6% (+2.5 p.p.) of total revenues. Core fixed revenue was boosted by the 25.9% YoY increase of FTTH revenues, and core mobile revenue saw a robust increase in handset revenue (+10.0% YoY) and the 5.9% growth in postpaid service.
Total Costs grew 7.0% YoY, while the inflation had an increase of 11.3%. The change in the cost mix is related to the strong revenue growth in handset and digital services.
EBITDA totaled R$4,511 million (+1.3% YoY) in 1Q22, with an EBITDA margin of 39.7%.
In 1Q22, we bought back R$ 115 million in shares with the new Share Buyback Program that will last until Feb-23. In the last 12 months, the Company registered 113% in dividend payout, and a 7.6% dividend yield.
Free Cash Flow after Leasing payments reached R$ 2.5 billion this quarter (+12.6% YoY).
In April 2022, Telefônica Brasil concluded the acquisition of Oi's mobile assets with potential synergies of R$ 5.4 billion. Synergies will come from the optimization of operation costs and efficient allocation of investments due to the integration of incorporated assets, thus benefiting the Brazilian telecommunications sector and reinforcing Vivo's mobile leadership.
To download the complete version of the Company's earnings release, please visit our website: http://www.telefonica.com.br/ir
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SOURCE Telefônica Brasil | https://www.whsv.com/prnewswire/2022/05/10/1q22-results-telefnica-brasil-sa/ | 2022-05-11T02:33:35Z |
ST. PAUL, Minn., May 10, 2022 /PRNewswire/ -- At today's Annual Meeting of Shareholders, 3M (NYSE:MMM) highlighted its strong 2021 performance, ongoing focus on customers in a dynamic environment, continued progress on sustainability goals, and commitment to deliver growth and value in 2022.
"3M is driven by purpose, and powered by four industry-leading businesses, unique global capabilities, and a highly experienced and diverse team," said 3M chairman and chief executive officer Mike Roman. "We are relentlessly focused on innovating for our customers, while managing supply chain disruptions, inflation and geopolitical pressures. I am confident we will continue to grow above the macro environment, improve our operational performance and deliver a strong 2022."
Preliminary Shareholder Voting Results
3M shareholders today voted on five business items:
1) Shareholders elected 11 directors for one-year terms that expire at the company's 2023 Annual Meeting:
- Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company
- Pamela J. Craig, retired chief financial officer, Accenture plc
- David B. Dillon, retired chairman of the board and CEO of The Kroger Co.
- Michael L. Eskew, retired chairman of the board and CEO, United Parcel Service Inc.
- James R. Fitterling, chairman of the board and CEO, Dow Inc.
- Amy E. Hood, executive vice president and chief financial officer, Microsoft Corporation
- Muhtar Kent, retired chairman of the board and CEO, The Coca-Cola Company
- Suzan Kereere, head of Global Business Solutions, Fiserv, Inc.
- Dambisa F. Moyo, co-principal, Versaca Investments
- Gregory R. Page, retired chairman of the board and CEO, Cargill, Incorporated
- Michael F. Roman, chairman of board and CEO, 3M Company
2) Shareholders ratified the appointment of PricewaterhouseCoopers LLP as 3M's independent registered public accounting firm for 2022.
3) Shareholders approved, on an advisory basis, executives' compensation as described in the proxy statement.
4) Shareholders did not approve the shareholder proposal on environmental costs reporting.
5) Shareholders did not approve the shareholder proposal on China audit.
3M will disclose the final voting results on each item of business properly presented at the Annual Meeting on Form 8-K to be filed with the SEC.
Forward-Looking Statements
This news release contains forward-looking information about 3M's financial results and estimates and business prospects that involve substantial risks and uncertainties. You can identify these statements by the use of words such as "anticipate," "estimate," "expect," "aim," "project," "intend," "plan," "believe," "will," "should," "could," "target," "forecast" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans or prospects. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19); (3) foreign currency exchange rates and fluctuations in those rates; (4) liabilities related to certain fluorochemicals, including lawsuits concerning various PFAS-related products and chemistries, and claims and governmental regulatory proceedings and inquiries related to PFAS in a variety of jurisdictions; (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2021, as updated by the Company's Current Report on Form 8-K dated April 26, 2022, and any subsequent quarterly reports on Form 10-Q (the "Reports"); (6) competitive conditions and customer preferences; (7) the timing and market acceptance of new product offerings; (8) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (11) operational execution, including scenarios where the Company generates fewer productivity improvements than estimated; (12) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; (13) the Company's credit ratings and its cost of capital; and (14) tax-related external conditions, including changes in tax rates, laws or regulations. Changes in such assumptions or factors could produce significantly different results. A further description of these factors is located in the Reports under "Cautionary Note Concerning Factors That May Affect Future Results" and "Risk Factors" in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). The Company assumes no obligation to update any forward-looking statements discussed today as a result of new information or future events or developments.
About 3M
At 3M, we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world. Learn more about 3M's creative solutions to global challenges at www.3M.com or on Twitter @3M or @3MNews.
Investor Contact:
Bruce Jermeland
651-733-1807
or
Diane Farrow
612-202-2449
or
Media Contact:
Tim Post
Tpost3@mmm.com
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SOURCE 3M | https://www.whsv.com/prnewswire/2022/05/10/3m-annual-meeting-highlights-strong-2021-investments-future/ | 2022-05-11T02:33:43Z |
ST. PAUL, Minn., May 10, 2022 /PRNewswire/ -- The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company's common stock of $1.49 per share for the second quarter of 2022. The dividend is payable June 12, 2022, to shareholders of record at the close of business on May 20, 2022.
3M has paid dividends to its shareholders without interruption for more than 100 years.
As of March 31, 2022, 3M had 569,058,849 common shares outstanding and 64,941 shareholders of record.
About 3M
At 3M, we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world. Learn more about 3M's creative solutions to global challenges at www.3M.com or on Twitter @3M or @3MNews.
Investor Contact:
Bruce Jermeland
651-733-1807
or
Diane Farrow
612-202-2449
or
Media Contact:
Tim Post
Tpost3@mmm.com
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SOURCE 3M | https://www.whsv.com/prnewswire/2022/05/10/3m-board-declares-quarterly-dividend/ | 2022-05-11T02:33:50Z |
Powered by 7thonline Lab's™ ML & AI, Test Buy™ analyzes inventory demand with only two data points, eliminating the need for retailers to commit to large initial buys.
NEW YORK, May 10, 2022 /PRNewswire/ -- 7thonline, Inc., the leading integrated demand planning and inventory management SaaS provider to the retail, wholesale and supply chain industries, today announces its continuous dedication to innovation and R&D with its latest application, Test Buy™. The cutting-edge cloud-native solution captures the latest consumer trends and recommends inventory to specific retail locations with only two data points needed.
Since 2006, 7thonline has been utilizing techniques such as machine learning and artificial intelligence to extract meaningful information and to predict future consumer spending patterns and behaviors to improve the retail forecasting, planning and management process. The Test Buy™ module further enhances those processes to optimize inventory management at the style, color, size and door level. The Test Buy™ module's ability to forecast and recommend based on two data points (days / weeks) allows the retail decision making teams to allocate inventory to the locations with the highest probability to sell the product at full price.
Industry analysts estimate that, on average, 60% of traditional initial buys are unproductive, resulting in missed sales targets, shrinking margins, and forced markdowns. Test Buy™ mitigates a retailer's risk by delivering quick response and visibility to productive and unproductive inventory situations. Retailers are now armed with a solution that frees up working capital and decreases inventory risk on many levels that include but are not limited to overstock, stock outs, and Omni-channel allocation mismanagement.
Test Buy™ provides the necessary data for a retailer to optimize a product's distribution:
- Evaluate initial test store effectiveness
- Expand store count based on a sophisticated clustering algorithm
- Determine optimal quantity for the initial and expansion store locations
- Calculate each location's size profiles based on current trend
The Test Buy module is presented in a fully integrated visual dashboard within our OTB module.
"When 7thonline began its journey over 20 years ago, its devotion to data science and technology was a bit contrarian, but today, I am humbled that we are considered innovative and transformative. Test Buy™, with all of its cutting-edge features, was developed with total client collaboration. I am thrilled to say that one of our clients has recently seen a 35% increase in gross margins after utilizing our Test Buy™ solution. The retail and supply chain industries are undergoing a dramatic shift where senior management is placing much more importance on data, data science and software to help them gain a competitive edge. I am delighted to see this and embrace it wholeheartedly."
– Chris Chung, President, Americas & EMEA 7thonline, Inc.
About 7thonline, Inc.
7thonline is the leading provider of omni-channel demand planning and inventory management solutions to the retail, wholesale and supply chain industries. Deployed as a cloud-native SaaS enterprise solution, 7thonline applications optimize merchandise planning and demand forecasting for Tier 1 retailers. Customers include Calvin Klein, Patagonia, Tommy Hilfiger, Michael Kors, Nautica, PVH, Bestseller and VF, etc. 7thonline is headquartered in New York, NY and has development offices globally.
To learn more, visit http://www.7thonline.com.
Media Contact: dd@7thonline.com
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SOURCE 7th Online, Inc. | https://www.whsv.com/prnewswire/2022/05/10/7thonline-inc-today-releases-test-buy-game-changing-dtc-forecasting-planning-saas-solution/ | 2022-05-11T02:33:59Z |
- Diluted funds from operations per unit ("Diluted FFO per Unit")1 of $0.05 for the quarter ended March 31, 2022, compared to $(0.03) for the same period in 2021.
- Average daily room rate ("ADR") of $117.05, meeting or exceeding 2019 ADR results for the third consecutive quarter.
- Revenue per available room ("RevPAR") of $74.52, a 0.87x recovery to 2019 which is consistent with the previous two quarters.
- Revenue increase of 32.2% to $61.8 million in Q1 2022 compared to $46.7 million in the same period of 2021.
- Income from operating activities of $6.7 million for the quarter was higher than the $3.6 million for the same quarter in 2021.
- Hotel EBITDA1 of $15.4 million for the quarter ended March 31, 2022, compared to $13.6 million for the same period in 2021.
- Addressed only 2022 debt maturity with the repayment of a $54.5 million term loan.
- Sale of Fairfield Inn & Suites Lake City, Florida hotel for total gross proceeds of $10.3 million.
- Commencement of monthly distribution of US$0.015 per unit, with the first such distribution announced on February 15, 2022.
- Total available liquidity at March 31, 2022 was $40.0 million plus an additional restricted cash balance of $40.4 million.
VANCOUVER, BC, May 10, 2022 /PRNewswire/ - American Hotel Income Properties REIT LP ("AHIP", or the "Company") (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.V) today announced its results for the three months ended March 31, 2022. Numbers are in U.S. dollars unless otherwise indicated.
"AHIP's premium branded select-service hotel portfolio continues to achieve solid financial results in an improving demand environment." said Jonathan Korol, CEO. Mr. Korol continued, "After four consecutive quarters of improving RevPAR relative to 2019, we took a modest step back in Q1 2022. This was primarily attributable to the temporary occupancy impact of Omicron in January. Top-line metrics rebounded in February and March, resulting in a third consecutive quarter of ADR matching or exceeding 2019 levels."
"From a margin perspective, results were impacted by higher wages driven by labour scarcity, increasing utility costs and continued supply chain disruptions impacting the cost and availability of hotel operating supplies." Mr. Korol added: "These factors contributed to operating margins below 2019 levels for the first time since 2020. In the current environment, our ability to maintain margins at 2019 levels or better will be determined by achieving revenue growth to offset inflationary cost pressures."
"The second quarter has started well, with preliminary April RevPAR coming in at a robust 0.92x 2019," noted Mr. Korol. "Leisure travel is being propelled by guests' improving willingness and ability to travel. This is translating to higher guest room rates than 2019 accompanied by stable occupancies. As we enter the seasonally strongest period for our portfolio, we remain confident in our ability to navigate the current industry backdrop and maximize long-term unitholder value."
THREE MONTHS ENDED MARCH 31, 2022 FINANCIAL SUMMARY
- Revenue for the quarter increased by $15.1 million (or 32.2%) to $61.8 million (2021 – $46.7 million) compared to the prior year, reflecting the ongoing recovery from lower demand in the prior year due to COVID-19.
- RevPAR increased 30.7% to $74.52 (2021 – $57.01) driven by ADR increasing by 23.6% to $117.05 (2021 – $94.70) and Occupancy increasing by 350 basis points to 63.7% (2021 – 60.2%).
- Loss and comprehensive loss for the quarter was $3.9 million, which was an improvement over the loss of $14.0 million for the same period in 2021. This included a gain of $1.7 million on the sale of Fairfield Inn & Suites Lake City, Florida hotel in the quarter, $1.0 million in business interruption insurance proceeds received in the first quarter from a COVID-19 related claim of lost revenue in 2020 and a $2.4 million increase in the change in fair value of interest rate swap contracts.
- Net operating income ("NOI")1 for Q1 2022 increased to $17.5 million (2021 – $15.0 million). The increase in NOI is due to improvements in operations.
- Funds from operations ("FFO")1 for Q1 2022 increased to $3.6 million (2021 – ($2.0) million) and adjusted funds from operations ("AFFO")1 increased to $2.2 million (2021 – ($1.6) million). The increase in FFO1 and AFFO1 is as a result of higher NOI1 and a $1.3 million non-recurring financing charge.
- Q1 2022 Diluted FFO per Unit1 was $0.05 (2021 – ($0.03)) and diluted adjusted funds from operations per unit ("Diluted AFFO per Unit")1 was $0.03 (2021 – ($0.02)).
- The following table summarizes certain portfolio operating metrics for the four most recent quarters with a comparison represented as a multiple of the same period in 20192:
LEVERAGE AND LIQUIDITY
- As at March 31, 2022, AHIP had total available liquidity of $40.0 million consisting of an unrestricted cash balance of $22.8 million and available capacity of $17.2 million on its Revolving Credit Facility. AHIP also has a restricted cash balance of $40.4 million which will be used to fund future hotel brand mandated property improvement plans ("PIPs") and FF&E expenditures.
- AHIP's Debt-to-Gross Book Value1 at March 31, 2022 was 54.1% which has remained stable over the last three quarters. Leverage by this measure has decreased by 460 basis points since Q2 2020.
- The weighted average interest rate on AHIP's term loans, Revolving Credit Facility and 2026 Debentures at March 31, 2022 was 4.63% and the weighted average term to maturity on AHIP's term loans, Revolving Credit Facility and 2026 Debentures was 3.6 years.
- As of May 10, 2022, 92.9% of AHIP's long term debt is at fixed rates and there are no debt maturities until the fourth quarter of 2023.
- Effective January 1, 2022, AHIP is no longer in the covenant waiver period under its senior credit facility.
OPERATING HIGHLIGHTS AND OUTLOOK
Select Service properties represent 56% of AHIP's portfolio by room count. For the three months ended March 31, 2022, RevPAR for these properties was $67.66 representing a 0.89x recovery to the same period in 2019, which is a decrease of 0.03x compared to the fourth quarter of 2021. The select service hotel model utilizes less labour per occupied room and has allowed AHIP to outperform industry averages in operating margins. This partially mitigates the impact of national challenges in the labour market where low availability and rising costs have impacted a large number of hospitality operators.
Extended Stay properties represent 29% of AHIP's portfolio by room count. For the three months ended March 31, 2022, RevPAR for these properties was $82.78 representing a 0.88x recovery to the same period in 2019, which is a decrease of 0.04x compared to the fourth quarter of 2021. The Extended Stay properties also contribute to higher overall operating margins as a result of a longer average length of stay.
AHIP's five Embassy Suites properties represent 15% of the portfolio by room count. For the three months ended March 31, 2022, RevPAR for these properties was $84.08 representing a 0.80x recovery to the same period in 2019, which is unchanged from the fourth quarter of 2021. The Embassy Suites rely in part on business demand from conference and group bookings which have not recovered at the same pace as other demand segments of the hotel sector during the pandemic. The Embassy Suites experienced some recovery in business travel in the quarter, supplemented by leisure-oriented groups: family reunions, youth sports, local events and weddings. AHIP's five Embassy Suites were all renovated in 2018 and 2019 and are well positioned to capture both business and corporate group demand as these segments continue to recover in 2022.
DISTRIBUTIONS
AHIP has adopted a distribution policy providing for the payment of regular monthly distributions at an annual rate of US$0.18 per unit (monthly rate of US$0.015 per unit). The first such distribution was declared on February 15, 2022. The declaration and payment of each monthly distribution under AHIP's distribution policy will remain subject to Board approval, and compliance by AHIP with the terms of its Revolving Credit Facility and its investor rights agreement. Distributions are not guaranteed and may be reduced or suspended at any time at the discretion of the Board of Directors should operating conditions or outlook change. See "Forward Looking Information" for further details.
Q1 2022 FINANCIAL RESULTS CONFERENCE CALL
Management will host a conference call at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Wednesday, May 11, 2022 to review the financial results for the three months ended March 31, 2022.
To participate in this conference call, please use the following dial-in information:
Please ask to participate in American Hotel Income Properties' Q1 2022 Analyst Call. To avoid any delays in joining the call, please dial in at least five minutes prior to the call start time. If prompted, please provide entry code 3357115.
An audio webcast of the conference call is also available, both live and archived, on the Events & Presentations page of AHIP's website: www.ahipreit.com. Alternatively, you may register for the webcast directly at the following link: https://produceredition.webcasts.com/starthere.jsp?ei=1544689&tp_key=3a81534a5a
CONFERENCE CALL REPLAY
A replay of the conference call can be accessed after 4:00 p.m. Eastern time / 1:00 p.m. Pacific time on Wednesday, May 11, 2022 at 1-888-203-1112 or 1-647-436-0148 (using entry code 3357115). The replay will be available until 4:00 p.m. Eastern time / 1:00 p.m. Pacific time on May 18, 2022. The webcast recording of this conference call will also be available at www.ahipreit.com on the Events and Presentation page.
The information in this news release should be read in conjunction with AHIP's unaudited condensed consolidated interim financial statements and management's discussion and analysis ("MD&A") for the three months ended March 31, 2022, which are available on AHIP's website at www.ahipreit.com and on SEDAR at www.sedar.com
NON-IFRS MEASURES
Certain non-IFRS financial measures and non-IFRS ratios are included in this news release. The non-IFRS financial measures used in this news release include Debt, Gross Book Value, FFO, AFFO, Diluted FFO per Unit, Diluted AFFO per Unit, NOI, EBITDA, Hotel EBITDA and Interest Expense, and the non-IFRS ratios used in this news release include Debt-to-Gross Book Value, NOI Margin, EBITDA Margin, Hotel EBITDA Margin, Interest Coverage Ratio, Debt-to-EBITDA, FFO Payout Ratio and AFFO Payout Ratio. These terms are not measures recognized under International Financial Reporting Standards ("IFRS") and do not have standardized meanings prescribed by IFRS. Real estate issuers often refer to NOI, NOI margin, FFO, Diluted FFO per Unit, AFFO, and Diluted AFFO per Unit as supplemental measures of performance and Debt-to-Gross Book Value as a supplemental measure of financial condition. Non-IFRS financial measures and non-IFRS ratios should not be construed as alternatives to measurements determined in accordance with IFRS as indicators of AHIP's performance or financial condition. AHIP's method of calculating these measures and ratios may differ from other issuers' methods and accordingly may not be comparable to measures used by other issuers.
For further information on these non-IFRS financial measures and non-IFRS ratios please refer to AHIP's MD&A dated May 10, 2022 in the Non-IFRS Measures section, which is available on SEDAR at www.sedar.com and on AHIP's website at www.ahipreit.com.
a) Debt:
Debt is reconciled to current and long-term portions of term loans and Revolving Credit Facility as follows:
b) Gross Book Value:
Gross Book Value is reconciled to Total Assets as follows:
c) Debt-to-Gross Book Value:
Debt-to-Gross Book Value is the ratio of Debt divided by Gross Book Value.
d) FFO and AFFO:
FFO is reconciled to net income (loss) and comprehensive income (loss) as follows:
AFFO is reconciled to cash flow from operating activities as follows:
e) NOI:
NOI is reconciled to income from operating activities as shown below.
f) NOI Margin:
AHIP calculates NOI Margin as NOI divided by total revenues.
g) EBITDA:
EBITDA is reconciled to income from operating activities per the audited consolidated financial statements ("Financial Statements") as shown below.
h) EBITDA Margin:
AHIP calculates EBITDA Margin as EBITDA divided by total revenues.
i) Hotel EBITDA:
HOTEL EBITDA is reconciled to income from operating activities per the Financial Statements as shown below.
j) Hotel EBITDA Margin:
AHIP calculates Hotel EBITDA Margin as Hotel EBITDA divided by total revenues.
k) Interest Expense:
The reconciliation of finance costs per the Financial Statements to Interest Expense is show below:
l) Interest Coverage Ratio:
AHIP calculates Interest Coverage Ratio as EBITDA for the trailing twelve-month period divided by Interest Expense for the trailing twelve-month period.
m) Debt-to-EBITDA:
AHIP calculates the Debt-to-EBITDA as Debt divided by the trailing twelve months of EBITDA.
n) FFO Payout Ratio and AFFO Payout Ratio:
AHIP calculates its FFO Payout Ratio as distributions declared divided by FFO for the period and AFFO Payout Ratio as distributions declared divided by AFFO for the period. The reconciliation of net income (loss) and comprehensive income (loss) to FFO and AFFO is shown above under the definition of FFO.
FORWARD-LOOKING INFORMATION
Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking information). Forward-looking information generally can be identified by words such as "anticipate", "believe", "continue", "expect", "estimates", "intend", "may", "outlook", "objective", "plans", "should", "will" and similar expressions suggesting future outcomes or events. Forward-looking information includes, but is not limited to, statements made or implied relating to the objectives of AHIP, AHIP's strategies to achieve those objectives and AHIP's beliefs, plans, estimates, projections and intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements with respect to: AHIP's expectations with respect to its future performance, including specific expectations in respect to certain categories of its properties; AHIP's outlook on the U.S. travel market; the expected timing for the declaration, record date and payment of monthly distributions; and AHIP's stated long-term objectives.
Although the forward-looking information contained in this news release is based on what AHIP's management believes to be reasonable assumptions, AHIP cannot assure investors that actual results will be consistent with such information. Forward-looking information is based on a number of key expectations and assumptions made by AHIP, including, without limitation: the COVID-19 pandemic will continue to negatively impact (although to a lesser extent than previously) the U.S. economy, U.S. hotel industry and AHIP's business; AHIP will continue to have sufficient funds to meet its financial obligations; AHIP's strategies with respect to margin enhancement, completion of capital projects, liquidity and divestiture of non-core assets and acquisitions will be successful; capital projects will be completed on time and on budget; AHIP's will continue to have good relationships with its hotel brand partners; occupancy rates will be stable or rise in 2022; AHIP's distribution policy will be sustainable and AHIP will not be prohibited from paying distributions under the terms of its senior credit facility or investor rights agreement; capital markets will provide AHIP with readily available access to equity and/or debt financing on terms acceptable to AHIP, including the ability to refinance maturing debt as it becomes due; AHIP's future level of indebtedness and its future growth potential will remain consistent with AHIP's current expectations; and AHIP will achieve its long term objectives.
Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information, accordingly undue reliance should not be placed on such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the COVID-19 pandemic and related government measures and their impact on the U.S. economy, the hotel industry, and AHIP's business; AHIP may not achieve its expected performance levels in 2022; AHIP's brand partners may impose revised service standards and capital requirements which are adverse to AHIP; PIP renovations may not commence or complete in accordance with currently expected timing and may suffer from increased material costs; recent recovery trends at AHIP's properties may not continue and may regress; AHIP's strategies with respect to margin enhancement, completion of accretive capital projects, liquidity, divestiture of non-core assets and acquisitions may not be successful; AHIP may not be successful in reducing its leverage; monthly cash distributions are not guaranteed and remain subject to the approval of Board of Directors and may be reduced or suspended at any time at the discretion of the Board; AHIP may not be able to refinance debt obligations as they become due; and AHIP may not achieve its long term objectives. Management believes that the expectations reflected in the forward-looking information are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with the forward-looking information contained herein. Additional information about risks and uncertainties is contained in AHIP's MD&A dated May 10, 2022 and AHIP's most recently filed annual information form, copies of which are available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to AHIP. The forward-looking information is made as of the date of this news release and AHIP assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
THIRD PARTY INFORMATION
This news release includes market information and industry data from independent industry publications, market research and analyst reports, surveys and other publicly available sources. Although AHIP management believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. Accordingly, the accuracy and completeness of this data are not guaranteed. AHIP has not independently verified any of the data from third party sources referred to in this news release nor ascertained the underlying assumptions relied upon by such sources.
ADDITIONAL INFORMATION
Additional information relating to AHIP, including AHIP's audited consolidated Financial Statements for the three months ended March 31, 2022, AHIP's MD&A dated May 10, 2022, and other public filings are available on SEDAR at www.sedar.com.
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.V), or AHIP, is a limited partnership formed to invest in hotel real estate properties across the United States. AHIP's portfolio of premium branded, select-service hotels are located in secondary metropolitan markets that benefit from diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG and Choice Hotels through license agreements. The Company's long-term objectives are to build on its proven track record of successful investment, deliver monthly U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio. More information is available at www.ahipreit.com.
FIRST QUARTER HIGHLIGHTS AND KEY PERFORMANCE INDICATORS
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SOURCE American Hotel Income Properties REIT LP | https://www.whsv.com/prnewswire/2022/05/10/american-hotel-income-properties-reit-lp-reports-q1-2022-results/ | 2022-05-11T02:34:06Z |
INDIANAPOLIS, May 10, 2022 /PRNewswire/ -- A Honolulu television station, an historic news service and a metropolitan newspaper will receive American Legion Fourth Estate Awards during the 103rd National Convention of the nation's largest veterans organization in Milwaukee, on September 1.
The Fourth Estate Award has been presented annually by The American Legion since 1958 for outstanding achievement in the field of journalism. Nominations in 2022 were considered in three categories: broadcast, print and online media. They were selected by the organization's Media & Communications Commission earlier this month and announced today.
Taking top honor in the broadcast category is KHON-2 for its nine-part series "The Forgotten." Producer Pamela Young, who received a Fourth Estate Award while with KITV in 2013, highlighted the significant contributions that Asian-American veterans made toward victory in World War II. The series culminated with hundreds of veterans and their surviving families receiving Congressional Gold Medals at a Washington gala last year.
In an online series titled "AWOL weapons," Associated Press reporters Kristin M. Hall, James LaPorta, and Justin Pritchard investigated firearms and explosives that have gone missing from military inventories since 2010. Gen. Mark Milley, chairman of the Joint Chiefs of Staff, called the AP investigation "another example of the free press shining a light on the important subjects we need to get right."
The Milwaukee Journal Sentinel, winner of three previous Fourth Estate Awards, is being recognized in the print category for its human-interest piece, "Military Suicides Take Toll on Wisconsin National Guard." Journalists Katelyn Ferral and Natalie Brophy chronicled the cases of four Wisconsin veterans who took their lives just months after they served in Afghanistan together.
"As a veterans organization that reveres the constitution, The American Legion has always respected the important role of a free press," said Paul E. Dillard, national commander of The American Legion. "These award winners are being recognized for outstanding works of journalism that not only stand far above normal media reporting but have had a positive impact on society.
"I will be honored to present each of these deserving recipients with our highest recognition of journalistic accomplishment, The American Legion Fourth Estate Award, at our national convention this summer," Dillard said. "They are all credits to their profession."
Previous winners of the award include CNN, CBS, USA Today, ABC News, C-SPAN, the Pittsburgh Tribune-Review, and Life Magazine, among others.
About The American Legion
The American Legion is the largest veterans service organization with nearly 2 million members in more than 12,000 posts across the nation. Chartered by Congress in 1919, The American Legion is committed to mentoring youth and sponsoring wholesome community programs, advocating patriotism and honor, promoting a strong national security and continued devotion to servicemembers and veterans.
Contact: John Raughter, Media Relations
jraughter@legion.org or 317-630-1350
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SOURCE The American Legion | https://www.whsv.com/prnewswire/2022/05/10/american-legion-announces-recipients-4th-estate-journalism-awards/ | 2022-05-11T02:34:13Z |
LONDON, May 10, 2022 /PRNewswire/ -- A subsidiary of Aquadrill LLC ("Aquadrill" or the "Company") has entered into a memorandum of agreement (the "Agreement") for the sale of the semisubmersible drilling unit the "Capricorn" (the "Rig"), in its current condition together with everything belonging to it on board or onshore, with PETRO RIO JAGUAR PETRÓLEO LTDA., a subsidiary of Petro Rio S.A. (the "Buyer") for USD 40.0 million (the "Purchase Price"). Arctic Offshore Rig acted as the broker in the sale and purchase of the Rig.
The Rig is expected to be used by the Buyer on its own acreage in Brazil, thereby removing it from open market tenders for drilling units.
As partial payment of the Purchase Price, Aquadrill has received a non-refundable exclusivity fee of USD 1.0 million. Under the terms of the Agreement, a deposit of USD 4.0 million is due from the Buyer on or before June 22, 2022. If this agreement is terminated prior to payment of the deposit, only the exclusivity fee is retained by Aquadrill. The balance of the Purchase Price is due upon delivery and completion of the sale, which must take place by August 5, 2022.
Closing of the transaction is subject to customary closing procedures and conditions.
FORWARD LOOKING STATEMENTS
This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.
CONTACT:
This information was brought to you by Cision http://news.cision.com
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SOURCE Aquadrill LLC | https://www.whsv.com/prnewswire/2022/05/10/aquadrill-announces-sale-capricorn/ | 2022-05-11T02:34:19Z |
Asurion® Repair Experts Provide Fast Fixes on Phones, Tablets, Laptops, and More
BOSSIER CITY, Calif., May 10, 2022 /PRNewswire/ -- A new electronics repair shop, Asurion Tech Repair & Solutions™, has opened in Bossier City at 2300 Airline Drive in front of Lowe's. The store offers professional fixes for most consumer electronics, from smartphones, tablets, and computers to game consoles, smart speakers, drones, and more.
While common repairs include cracked screens, battery issues, and water damage, the company's repair experts have fixed millions of devices and can help with most any tech mishap, and many basic repairs can be completed in two hours or less.
The store is owned by Matt Troyer, who also owns locations in Castle Rock, Colorado, and Tyler, Texas.
"Bossier City is the perfect place to introduce Asurion Tech Repair & Solutions," said Troyer. "The need for reliable tech repair is greater than ever and our store is committed to ensuring locals have a go-to spot that's not only affordable but also convenient."
The store's expert repair technicians fix all kinds of technology, regardless of make or model, and the store is an authorized repair provider for Samsung Galaxy and Google Pixel smartphones. Customers can book a repair appointment online or stop by the store for walk-in service. The store offers free, no-obligation diagnostics on all gadgets, as well as a 1-year limited warranty on all repairs. It even offers a price match guarantee on any local competitor's regularly published price for the same repair.
The new Asurion Tech Repair & Solutions store brings the company's retail footprint to more than 800 locations across the U.S. Formerly known as uBreakiFix®, all U.S. locations will rebrand as Asurion Tech Repair & Solutions throughout 2022.
"We are excited to serve people in Bossier City with fast and affordable tech repair," said Dave Barbuto, CEO of Asurion Tech Repair & Solutions. "We all rely on our phones and laptops more than ever before, and our mission is bigger than repairing shattered screens and broken charge ports. We fix tech because people depend on it to stay connected to things that are important to them. I look forward to serving this community through our new location."
The new store is located at:
Asurion Tech Repair & Solutions
2300 Airline Dr, Bossier City, LA 71111
318-550-5459
Asurion Tech Repair & Solutions™, formerly known as uBreakiFix®, is the retail brand operated and franchised by a subsidiary of tech care company Asurion®. As the world's leading tech care company, Asurion eliminates the fears and frustrations associated with technology to ensure its 300 million customers get the most out of their devices, appliances, and connections. Asurion Tech Repair & Solutions stores specialize in the repair of consumer technology, including smartphones, game consoles, tablets, computers, and nearly everything in between. Asurion Tech Repair and Solutions repair experts fix cracked screens, software issues, camera issues, and most other tech mishaps at more than 700 stores across the U.S. The stores provide fast, affordable fixes for nearly any device type, regardless of make or model, including authorized repairs for Google Pixel and Samsung Galaxy smartphones.
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SOURCE Asurion Tech Repair & Solutions | https://www.whsv.com/prnewswire/2022/05/10/asurion-tech-repair-amp-solutions-opens-bossier-city/ | 2022-05-11T02:34:26Z |
Second quarter revenue of $41.6 million, net loss of $(0.17) million and Adjusted EBITDA of $22.5 million; Company continues to execute its strategic plan and make significant headway in mining operations
LAS VEGAS, May 10, 2022 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a sustainable bitcoin mining and energy technology company, today reported financial results for the three and six months ended March 31, 2022.
"The theme for this quarter has been operational and financial execution," said Zach Bradford, Chief Executive Officer. "While the whole industry faced macro headwinds, primarily driven by a lower average bitcoin price, we continued to execute on our infrastructure-first strategy. We have line-of-sight on 600MW of power, driven in large part by the recent agreement we signed with Lancium at the end of the quarter. We continue to make strides in our commitment to ESG principles, most notably by working on attracting and retaining a diverse and highly qualified workforce. As for our capital strategy, our growth capex was funded 100% from the conversion of bitcoin. We have not utilized the shelf offering since November and we continue to right size our capital structure through means of non-dilutive capital."
Q2 Financial Highlights
Financial Results for the Three Months Ended March 31, 2022
- Revenues for the quarter grew to $41.6 million, an increase of $33.5 million, or 4x, from $8.1 million for the same prior year period.
- The Company recognized a net loss for the three months ended March 31, 2022, of $(0.17) million or $(0.00) basic loss per share compared to net income of $7.4 million or $0.28 basic earnings per share for the same prior year period.
- Adjusted EBITDA1 improved significantly to $22.5 million, compared to Adjusted EBITDA1 of $1.9 million from the same prior year period.
- The Company also saw sequential revenues grow slightly in the second quarter compared to the previous quarter. Revenues increased $0.4 million, or 1%, from the first quarter. Net loss for the second quarter was $(0.17) million, reversing net income of $14.5 million in the first quarter. Adjusted EBITDA1 was $22.5 million, decreasing 7.2% from $24.2 million in the first quarter.
Balance Sheet Highlights as of March 31, 2022
Assets
- Cash: $1.9 million
- Digital Currency: $17.0 million
- Total Current assets: $42.0 million
- Total Mining assets (including prepaid deposits & deployed miners): $326.0 million
- Total Assets: $424.8 million
Liabilities and Stockholders' equity
- Current Liabilities: $22.6 million
- Total Liabilities: $23.9 million
- Total Stockholders' Equity: $400.9 million
The Company had working capital of $19.4 million and no long-term debt as of March 31, 2022.
Investor Conference Call and Webcast
The Company will hold its second quarter 2022 earnings presentation and business update for investors and analysts today, May 10, 2022, at 1:30 p.m. PST/4:30 p.m. EST.
Webcast URL: https://www.cleanspark.com/investor-relations/clsk-earnings
Participant Dial-in (Toll free): 1-877-270-2148
The webcast will be accessible for at least 30 days on the Company's website and a transcript of the call will be available on the Company's website following the call.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release, but are not limited to statements regarding our future results of operations and financial position, industry and business trends, equity compensation, business strategy, plans, market growth and our objectives for future operations.
The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; the successful deployment of energy solutions for residential and commercial applications; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on logistics and shipping and the demand for our products and services; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.
You should read this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.
Non-GAAP Measures
Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States ("GAAP"). Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CleanSpark management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the Company's core business operating results and those of other companies, as well as providing the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.
The Company's Adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The Company's Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. Our management does not consider Adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.
We are providing supplemental financial measures for (i) non-GAAP adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") that excludes the impact of interest, taxes, depreciation, amortization, our share-based compensation expense, and impairment of assets, unrealized gains/losses on securities, certain financing costs, other non-cash items, certain non-recurring expenses, and impacts related to discontinued operations; and (ii) non-GAAP Adjusted EBITDA that excludes the impact of interest, taxes, depreciation, amortization, our share-based compensation expense, and impairment of assets, unrealized gains/losses on securities, certain financing costs, other non-cash items, and impacts related to discontinued operations. These supplemental financial measures are not measurements of financial performance under GAAP and, as a result, these supplemental financial measures may not be comparable to similarly titled measures of other companies. Management uses these non-GAAP financial measures internally to help understand, manage, and evaluate our business performance and to help make operating decisions.
We believe that these non-GAAP financial measures are also useful to investors and analysts in comparing our performance across reporting periods on a consistent basis. Adjusted EBITDA excludes (i) impacts of interest, taxes, and depreciation; (ii) significant non-cash expenses such as our share-based compensation expense, unrealized gains/losses on securities, certain financing costs, other non-cash items that we believe are not reflective of our general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) significant impairment losses related to long-lived and digital assets, which include our bitcoin for which the accounting requires significant estimates and judgment, and the resulting expenses could vary significantly in comparison to other companies; and (iv) and impacts related to discontinued operations that would not be applicable to our future business activities.
Non-GAAP financial measures are subject to material limitations as they are not in accordance with, or a substitute for, measurements prepared in accordance with GAAP. For example, we expect that share-based compensation expense, which is excluded from Adjusted EBITDA, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers, and directors.
We have also excluded impairment losses on assets, including impairments of our digital currency our non-GAAP financial measures, which may continue to occur in future periods as a result of our continued holdings of significant amounts of bitcoin. Our non-GAAP financial measures are not meant to be considered in isolation and should be read only in conjunction with our Consolidated Financial Statements, which have been prepared in accordance with GAAP. We rely primarily on such Consolidated Financial Statements to understand, manage, and evaluate our business performance and use the non-GAAP financial measures only supplementally.
About CleanSpark
CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations.
Investor Relations Contact
Matt Schultz, Executive Chairman
ir@cleanspark.com
Media Contacts
Isaac Holyoak
pr@cleanspark.com
BlocksBridge Consulting
Nishant Sharma
cleanspark@blocksbridge.com
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SOURCE CleanSpark, Inc. | https://www.whsv.com/prnewswire/2022/05/10/cleanspark-reports-second-quarter-fy2022-financial-results/ | 2022-05-11T02:34:33Z |
SAN ANTONIO, May 10, 2022 /PRNewswire/ -- Bexar County Commissioner Tommy Calvert's leadership in creating the transformational Camelot II neighborhood trash program and the Greenies Urban Farm Program has earned him two National Achievement Awards from the National Association of Counties (NACO) to be presented at the organization's annual meeting in Denver, Colorado, in July.
Calvert worked with the Texas Legislature to enable the creation of the solid waste program in one of the county's highest crime areas that led to dramatic improvements in neighborhood quality of life – a decrease in crime of 54 percent; a decrease in illegal dumping by 74 percent; and decreased animal protection calls by 75 percent.
"This effective work not only helped improve the neighborhood, but it saved county taxpayers significant dollars," Commissioner Calvert said. "I believed we were creating a national model and now the National Association of Counties has validated that."
Watch a video documenting Commissioner Calvert's work in the Camelot neighborhood: https://youtu.be/VPqHPkcFbcQ)
Camelot II had illegal dumping issues since the late 1990s. With no mandated trash collection for the neighborhoods, Commissioner Calvert had to get the Texas House of Representatives, the Texas Senate, and the Governor to agree to give him and the County new authority to deal with the trash and illegal dumping. Once the legislation passed, Commissioner Calvert grew the initial pilot program to the Glen, Crownwood, and Candlewood subdivisions.
NACO is nationally recognizing Commissioner Calvert for his leadership in improving food security for thousands of Bexar County residents during the pandemic.
Commissioner Calvert led the way in securing $2 million in federal funding to ensure that residents experiencing supply chain disruptions did not go hungry during the pandemic. His leadership led to 25,000 lbs. of super greens and fruits being available for residents struggling to pay for groceries – putting Calvert ahead of the economic reality of inflation, which is now the top worry according to polls of U.S. voters.
With long lines having wrapped around the Alamodome with thousands of citizens seeking food distributions at the height of the pandemic, Commissioner Calvert will receive a second national award for the Greenies Urban Farm from the National Association of Counties. Commissioner Calvert challenged Commissioner Kevin Wolff, who said a food source program was unnecessary.
The Greenies was also recognized at Texas A&M University in College Station for the state's top award for "Superior Service" of emerging issues from the Agricultural Extension Service of Texas. The Greenies is under construction and $14 million in additional funding will allow the 10 acres plot of land to house nearly 25 employees from the Bexar County Agricultural Extension Service. The urban farm will also bring revenue to Bexar County through a 300-person event center under construction along Menger Creek, a once-blighted eyesore known as "The Goonies." Commissioner Calvert has renamed the property "The Greenies." The Greenies has worked with over 200 non-profits and supplies the San Antonio Food Bank with fresh produce grown and harvested in partnership with the San Antonio Master Gardeners for people countywide.
See video of the opening ceremony: https://youtu.be/Qy_TxGT3-GA
See video of the first harvest Ceremony: https://youtu.be/120QT3s6BG4
About Bexar County Commissioner Tommy Calvert
Tommy Calvert is Bexar County Commissioner for Precinct 4. He's the youngest and first African American County Commissioner in Bexar County history. Los Angeles Weekly called him San Antonio's "wunderkind," and Gardner Selby of the Austin-American Statesman said he is "one to watch." Calvert represents over 500,000 residents in Precinct 4 of the 2 million who call Bexar County home.
Contact: Carlos De Leon, cdeleon@rpagency.com, 210-317-1592
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SOURCE Tommy Calvert, Bexar County Commissioner, Precinct 4 | https://www.whsv.com/prnewswire/2022/05/10/commissioner-calvert-nationally-recognized-innovative-trash-collection-urban-farm-programs/ | 2022-05-11T02:34:39Z |
PANAMA CITY, May 10, 2022 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for April 2022:
Given the irregular nature of the Company's operations starting in March 2020 due to the Covid-19 pandemic, we will compare this and future traffic reports to 2019 statistics.
Consolidated capacity (ASMs) came in 4.8% lower than April 2019, while passenger traffic (RPMs) decreased 3.9%, which resulted in an 84.9% load factor.
Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central and South America and the Caribbean. For more information visit www.copaair.com.
CPA-G
PRESS RELEASE CONTACT: Daniel Tapia – Panamá
Director – Investor Relations
011 (507) 304-2774
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SOURCE Copa Holdings, S.A. | https://www.whsv.com/prnewswire/2022/05/10/copa-holdings-announces-monthly-traffic-statistics-april-2022/ | 2022-05-11T02:34:47Z |
WASHINGTON, May 10, 2022 /PRNewswire/ -- We are delighted to announce that Dr. Cristián Samper will join the Bezos Earth Fund as Managing Director and Leader of Nature Solutions. He will lead a $3 billion nature solutions portfolio to protect and restore nature and transform food systems as part of Jeff Bezos' $10 billion personal commitment to protect nature and fight climate change.
"Cristián is a giant in the conservation field, and we're honored he's joining us on a full-time basis to drive our nature agenda," said Bezos Earth Fund President and CEO, Dr. Andrew Steer. "The enormity of the challenge ahead requires vision and bold action, and Cristian's leadership is critical in this decisive decade."
Samper is currently advising the Earth Fund as its Principal Advisor for Nature, where he's helped shape the organization's nature portfolio. He also helped design and launch the Protecting Our Planet Challenge, a coalition of foundations, including the Earth Fund, pledging $5 billion to support the protection of 30% of the planet by 2030.
"We are fortunate to have Cristián as a key member of the Bezos Earth Fund team," said Lauren Sánchez, Vice Chair of the Bezos Earth Fund. "His contributions have already made an impact and will continue to push the organization's mission further, helping drive critical climate and nature solutions."
Samper will step down as President and CEO of the Wildlife Conservation Society (WCS), where he has overseen one of the largest environmental nonprofit organizations in the world and a global conservation program in nearly 60 countries. His role has included managing the world's most extensive collection of urban parks — including the Bronx Zoo, New York Aquarium, Central Park Zoo, Queens Zoo and Prospect Park Zoo.
"It gives me great pride to continue supporting, and to be soon leading, the nature solutions portfolio at the Bezos Earth Fund," said Samper. "It's important that we continue to provide innovative solutions to the climate crisis and that includes valuing the role nature plays in addressing the world's greatest challenge."
Before leading WCS, Samper was the Director of the Smithsonian Institution's National Museum of Natural History, the world's most extensive natural history collection, from 2003 to 2012, and served as acting Secretary of the Smithsonian from 2007 to 2008, the first Latin American to hold the position.
The Bezos Earth Fund is Jeff Bezos' $10 billion personal commitment to fund scientists, activists, NGOs and others to help drive climate and nature solutions. By allocating funds creatively, wisely and boldly, the Bezos Earth Fund has the potential for transformative influence in this decisive decade. Funds will be fully allocated by 2030 — the date by which the United Nations Sustainable Development Goals must be achieved.
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SOURCE Bezos Earth Fund | https://www.whsv.com/prnewswire/2022/05/10/cristin-samper-join-bezos-earth-fund-managing-director-leader-nature-solutions/ | 2022-05-11T02:34:54Z |
First Quarter 2022
- Net income of $188.1 million, or $1.14 per GAAP diluted share
- Net Sales of $1.37 billion
- Combined adjusted EBITDA of $330.7 million
- Global ingredients business EBITDA of $244.1 million
- Repurchased $17.2 million of stock
IRVING, Texas, May 10, 2022 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today reported net income of $188.1 million, or $1.14 per diluted share for first quarter 2022, compared to net income of $151.8 million, or $0.90 per diluted share, for first quarter 2021. The company also reported net sales of $1.37 billion for the first quarter of 2022, as compared with net sales of $1.0 billion for the same period a year ago.
"Our global ingredients business had a record quarter, earning $244.1 million in EBITDA, driven by strong raw material volumes across the globe, robust finished products prices, including record high fat prices, and growing demand for green energy," said Randall C. Stuewe, Chairman and Chief Executive Officer of Darling Ingredients Inc. "Adding $86.6 million in EBITDA from Diamond Green Diesel, Darling Ingredients earned $330.7 million in combined adjusted EBITDA for the first quarter of 2022. We kicked off the year with a very strong first quarter and carry tremendous momentum for the rest of the year."
Darling Ingredients forecasts full year 2022 combined adjusted EBITDA at $1.55-$1.6 billion. The global ingredients business is estimated to exceed $1 billion in EBITDA. Diamond Green Diesel is estimated to produce 750 million gallons of renewable diesel at $1.25 per gallon EBITDA, bringing Darling Ingredients' share of EBITDA for DGD to $468.8 million.
First quarter capital expenditures totaled approximately $71.6 million. The company also repurchased approximately $17.2 million of stock in the first quarter of 2022. As of April 2, 2022, Darling had $99.5 million in cash and cash equivalents, and $1.1 billion available under its committed revolving credit agreement. Total debt outstanding as of April 2, 2022 was $1.7 billion. The leverage ratio as measured by the company's bank covenant was 1.69 as of April 2, 2022. On May 2, 2022, the company completed its acquisition of Valley Proteins. The company used borrowings under its senior credit facility to fund the acquisition.
Combined adjusted EBITDA was $330.7 million for the first quarter 2022, compared to $284.8 million for the same period in 2021.
Darling Ingredients Inc. reports Adjusted EBITDA results, which is a Non-GAAP financial measure, as a complement to results provided in accordance with generally accepted accounting principles (GAAP) (for additional information, see "Use of Non-GAAP Financial Measures" included later in this media release). The Company believes that Adjusted EBITDA provides additional useful information to investors. Adjusted EBITDA, as the Company uses the term, is calculated below:
About Darling
Darling Ingredients Inc. (NYSE: DAR) is the largest publicly traded company turning food waste into sustainable products and a leading producer of renewable energy. Recognized as a sustainability leader, the company operates 250 plants in 17 countries and repurposes nearly 10% of the world's meat industry waste streams into value-added products, such as green energy, renewable diesel, collagen, fertilizer, animal proteins and meals and pet food ingredients. To learn more, visit darlingii.com. Follow us on LinkedIn.
Darling Ingredients Inc. will host a conference call to discuss the Company's first quarter 2022 financial results at 9 a.m. Eastern Time (8 a.m. Central Time) on Wednesday, May 11, 2022. To listen to the conference call, participants calling from within North America should dial 1-844-868-8847; international participants should dial 1-412-317-6593 and ask to be joined to the Darling Ingredients Inc. call. Please call approximately ten minutes before the start of the call to ensure that you are connected.
The call will also be available as a live audio webcast that can be accessed on the Company website at http://ir.darlingii.com. Beginning one hour after its completion, a replay of the call can be accessed through May 18, 2022, by dialing 1-877-344-7529 (U.S. callers), 1-855-669-9658 (Canada) and 1-412-317-0088 (international callers). The access code for the replay is 8161187. The conference call will also be archived on the Company's website.
Use of Non-GAAP Financial Measures:
Adjusted EBITDA is not a recognized accounting measurement under GAAP; it should not be considered as an alternative to net income, as a measure of operating results, or as an alternative to cash flow as a measure of liquidity and is not intended to be a presentation in accordance with GAAP. Adjusted EBITDA is presented here not as an alternative to net income, but rather as a measure of the Company's operating performance. Since EBITDA (generally, net income plus interest expense, taxes, depreciation and amortization) is not calculated identically by all companies, this presentation may not be comparable to EBITDA or Adjusted EBITDA presentations disclosed by other companies. Adjusted EBITDA is calculated in this presentation and represents, for any relevant period, net income/(loss) plus depreciation and amortization, goodwill and long-lived asset impairment, interest expense, (income)/loss from discontinued operations, net of tax, income tax provision, other income/(expense) and equity in net loss of unconsolidated subsidiary. Management believes that Adjusted EBITDA is useful in evaluating the Company's operating performance compared to that of other companies in its industry because the calculation of Adjusted EBITDA generally eliminates the effects of financing, income taxes and certain non-cash and other items that may vary for different companies for reasons unrelated to overall operating performance.
Pro forma Adjusted EBITDA to Foreign Currency is not a recognized accounting measurement under GAAP. The Company evaluates the impact of foreign currency on its adjusted EBITDA. DGD Joint Venture Adjusted EBITDA (Darling's share) is not reflected in the Adjusted EBITDA or the Pro forma Adjusted EBITDA to Foreign Currency (Non-GAAP).
As a result, the Company's management uses Adjusted EBITDA as a measure to evaluate performance and for other discretionary purposes. In addition to the foregoing, management also uses or will use Adjusted EBITDA to measure compliance with certain financial covenants under the Company's Senior Secured Credit Facilities, 5.25% Notes and 3.625% Notes that were outstanding at April 2, 2022. However, the amounts shown in this presentation for Adjusted EBITDA differ from the amounts calculated under similarly titled definitions in the Company's Senior Secured Credit Facilities, 5.25% Notes and 3.625% Notes, as those definitions permit further adjustments to reflect certain other non-recurring costs, non-cash charges and cash dividends from the DGD Joint Venture. Additionally, the Company evaluates the impact of foreign exchange impact on operating cash flow, which is defined as segment operating income (loss) plus depreciation and amortization.
Information reconciling forward-looking combined adjusted EBITDA to net income is unavailable to the Company without unreasonable effort. The Company is not able to provide reconciliations of combined adjusted EBITDA to net income because certain items required for such reconciliations are outside of the Company's control and/or cannot be reasonably predicted, such as the impact of volatile commodity prices on the Company's operations, impact of foreign currency exchange fluctuations, depreciation and amortization and the provision for income taxes. Preparation of such reconciliations for Darling Ingredients Inc. and the Company's joint venture, Diamond Green Diesel, would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with GAAP for each entity, and such forward-looking financial statements are unavailable to the Company without unreasonable effort. The Company provides a range for its combined adjusted EBITDA outlook that it believes will be achieved; however, it cannot accurately predict all the components of the combined adjusted EBITDA calculation.
Cautionary Statements Regarding Forward-Looking Information:
{This media release contains "forward-looking" statements regarding the business operations and prospects of Darling Ingredients Inc. and industry factors affecting it. These statements are identified by words such as "believe," "anticipate," "expect," "estimate," "intend," "could," "may," "will," "should," "planned," "potential," "continue," "momentum," "forecast," and other words referring to events that may occur in the future. These statements reflect Darling Ingredient's current view of future events and are based on its assessment of, and are subject to, a variety of risks and uncertainties beyond its control, each of which could cause actual results to differ materially from those indicated in the forward-looking statements. These factors include, among others, existing and unknown future limitations on the ability of the Company's direct and indirect subsidiaries to make their cash flow available to the Company for payments on the Company's indebtedness or other purposes; global demands for bio-fuels and grain and oilseed commodities, which have exhibited volatility, and can impact the cost of feed for cattle, hogs and poultry, thus affecting available rendering feedstock and selling prices for the Company's products; reductions in raw material volumes available to the Company due to weak margins in the meat production industry as a result of higher feed costs, reduced consumer demand or other factors, reduced volume from food service establishments, or otherwise; reduced demand for animal feed; reduced finished product prices, including a decline in fat and used cooking oil finished product prices; changes to worldwide government policies relating to renewable fuels and greenhouse gas("GHG") emissions that adversely affect programs like the U.S. government's renewable fuel standard, low carbon fuel standards ("LCFS") and tax credits for biofuels both in the United States and abroad; possible product recall resulting from developments relating to the discovery of unauthorized adulterations to food or food additives; the occurrence of 2009 H1N1 flu (initially known as "Swine Flu"), Highly pathogenic strains of avian influenza (collectively known as "Bird Flu"), severe acute respiratory syndrome ("SARS"), bovine spongiform encephalopathy (or "BSE"), porcine epidemic diarrhea ("PED") or other diseases associated with animal origin in the United States or elsewhere, such as the outbreak of African Swine Fever ("ASF") in China and elsewhere; the occurrence of pandemics, epidemics or disease outbreaks, such as the current COVID-19 outbreak; unanticipated costs and/or reductions in raw material volumes related to the Company's compliance with the existing or unforeseen new U.S. or foreign (including, without limitation, China) regulations (including new or modified animal feed, Bird Flu, SARS, PED, BSE, ASF or similar or unanticipated regulations) affecting the industries in which the Company operates or its value added products; risks associated with the DGD Joint Venture, including possible unanticipated operating disruptions and issues relating to the announced expansion project; failure to close on strategic acquisitions, such as FASA; risks and uncertainties relating to international sales and operations, including imposition of tariffs, quotas, trade barriers and other trade protections imposed by foreign countries; difficulties or a significant disruption in our information systems or failure to implement new systems and software successfully, risks relating to possible third party claims of intellectual property infringement; increased contributions to the Company's pension and benefit plans, including multiemployer and employer-sponsored defined benefit pension plans as required by legislation, regulation or other applicable U.S. or foreign law or resulting from a U.S. mass withdrawal event; bad debt write-offs; loss of or failure to obtain necessary permits and registrations; continued or escalated conflict in the Middle East, North Korea, Ukraine or elsewhere; including the Russia-Ukraine war; uncertainty regarding the exit of the U.K. from the European Union; and/or unfavorable export or import markets. These factors, coupled with volatile prices for natural gas and diesel fuel, climate conditions, currency exchange fluctuations, general performance of the U.S. and global economies, disturbances in world financial, credit, commodities and stock markets, and any decline in consumer confidence and discretionary spending, including the inability of consumers and companies to obtain credit due to lack of liquidity in the financial markets, among others, could cause actual results to vary materially from the forward looking statements included in this release or negatively impact the Company's results of operations. Among other things, future profitability may be affected by the Company's ability to grow its business, which faces competition from companies that may have substantially greater resources than the Company. The Company's announced share repurchase program may be suspended or discontinued at any time and purchases of shares under the program are subject to market conditions and other factors, which are likely to change from time to time. Other risks and uncertainties regarding Darling Ingredients Inc., its business and the industries in which it operates are referenced from time to time in the Company's filings with the Securities and Exchange Commission. Darling Ingredients Inc. is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.}
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AUSTIN, Texas, May 10, 2022 /PRNewswire/ -- Digital Brands Group, Inc., a Delaware corporation ("Digital Brands" or the "Company") (NASDAQ: DBGI), a curated collection of luxury lifestyle, digital-first brands, today announced the closing of its underwritten public offering of 37,389,800 shares of its common stock, $0.0001 par value per share, at a public offering price of $0.25 per share. In addition, the Company has granted the underwriters a 45-day option to purchase up to 5,608,470 additional shares of common stock at the public offering price per share, less underwriting discounts, and commissions, to cover over-allotments, if any.
The gross proceeds from the offering to Digital Brands, before deducting underwriting discounts and commissions and other offering expenses payable by Digital Brands, are expected to be $9,347,450, excluding any exercise of the underwriters' option to purchase additional shares.
The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, including the repayment of promissory notes in the principal amount of $3,068,750.
Alexander Capital, L.P. is acting as sole book-running manager and Revere Securities, LLC is acting as co-manager for the offering.
The Securities and Exchange Commission ("SEC") declared effective a registration statement on Form S-1 (File No. 333-264347) relating to these securities on May 5, 2022 and a related registration statement on Form S-1 (File No. 333- 264775) was filed pursuant to Rule 462(b) under the Securities Act, as amended, on May 6, 2022. A final prospectus relating to this offering was filed with the SEC on May 9, 2022 and is available on the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus, which forms part of the Registration Statement, copies of which may be obtained from Alexander Capital, L.P., 17 State Street 5th Floor, New York, NY 10004, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing info@alexandercapitallp.com.
All investments involve risk and loss of principal is possible.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Digital Brands Group, Inc.
Digital Brands Group is a curated collection of lifestyle brands, including Bailey 44, DSTLD, Harper and Jones, Stateside and ACE Studios, that offers a variety of apparel products through direct-to-consumer and wholesale distribution. Our complementary brand portfolio provides us with the unique opportunity to cross merchandise our brands. We aim for our customers to wear our brands head to toe and to capture what we call "closet share" by gaining insight into their preferences to create targeted and personalized content specific to their cohort. Operating our brands under one portfolio provides us with the ability to better utilize our technological, human capital and operational capabilities across all brands. As a result, we have been able to realize operational efficiencies and continue to identify additional cost saving opportunities to scale our brands and overall portfolio.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements, including with respect to the proposed initial public offering. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor Contact:
Alexander Capital, L.P.
Chris Carlin
ccarlin@alexandercapitallp.com
(646) 787-8890
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SOURCE Digital Brands Group, Inc. | https://www.whsv.com/prnewswire/2022/05/10/digital-brands-group-inc-announces-closing-9347450-underwritten-public-offering/ | 2022-05-11T02:35:08Z |
AUM2 Exceeds $43 Billion on Diversified Lending, Confidence in 2022 Guidance Confirmed
TORONTO, May 10, 2022 /PRNewswire/ - Equitable Group Inc. (TSX: EQB) (TSX: EQB.PR.C) (TSX: EQB.R) (Equitable or the Bank) today reported its best-ever quarter of earnings for the period ended March 31, 2022, as Equitable Bank (Canada's Challenger Bank™) delivered strong revenue growth across its personal and commercial business lines while boldly driving change in Canadian banking with expanded products, services and partnerships to enrich people's lives.
"Our Challenger Bank approach was validated again this quarter. Our lending activities produced double-digit growth and some of the best credit metrics I have seen since joining Equitable 15 years ago. The 216% year-over-year growth in our new decumulation lending services demonstrates the effectiveness of the Bank's strategic approach to building businesses organically, while ongoing strength in Bennington's performance proves our ability to grow through acquisition. EQ Bank's addition this week of a sleek new account opening process, using informed AI, will make our award-winning digital platform even more customer friendly as we go from strength to strength. Record earnings and an adjusted ROE1 of 19.2% (reported – 18.3%) point to really effective execution by a talented team that I am privileged to work with every day," said Andrew Moor, President and CEO. "I am also pleased to see the federal government's new appointment of an Open Banking lead as our country moves closer to giving Canadians access to valuable new choices and more control over their financial lives."
First Quarter Provides a Springboard to Achieve Ambitious 2022 Guidance
- Based on first quarter growth in conventional assets, its current outlook, and the strength and advantage of its asset diversification and pricing strategies, the Bank today expressed confidence in prior annual guidance for the full-year 2022 of +12-15% in total lending growth (Q1 +19%), +8-10% EPS growth (Q1 adjusted1 +33%, Q1 reported +27%), ROE of 15%+ (Q1 adjusted1 19.2%, Q1 reported 18.3%), pre-provision, pre-tax income +12% (Q1 adjusted1 +28%, Q1 reported +21%), book value per share +12% (Q1 +18%) and CET1 13%+ (Q1 13.5%)
- Net interest income and net interest margin (NIM)2 were both higher on a y/y and q/q basis with the full-year 2022 outlook for NIM remaining strong and stable as previously indicated, supported by systems and tools put in place over the years to manage margins, even in a changing rate environment
Personal Banking Asset Growth 20% to $23.2 Billion
- Single family alternative portfolio +37% y/y and +7% q/q to $15.4 billion (2022 annual guidance +12-15%), with originations +63% y/y supported by deep broker partnerships and a decline in loan attrition
- Reverse mortgage assets +262% y/y to $304 million (2022 annual guidance +150%) reflecting expanded distribution and growing brand awareness of Equitable as an attractive provider of reverse mortgages to Canadians nearing or in retirement
- Insurance lending (CSV) +91% y/y to nearly $60 million (2022 annual guidance +100%) assisted by the introduction of Immediate Financing Arrangement, enabling customers who purchase whole life insurance policies with an Equitable insurance partner to immediately access 100% of their total annual premium as equity as well as by the addition of Equitable Life of Canada as one of nine leading insurers to partner with Equitable
- During Q1, the Bank introduced Equitable Connect, a digital portal enabling mortgage brokers to more easily submit and manage client documentation as part of the origination process for alternative, prime and reverse mortgages, and the Bank to send real-time communication and status updates on the fulfillment process
Commercial Asset Growth 16% Y/Y to $10.9 Billion on Diversified Platform Expansion
- Conventional commercial loan asset expansion +26% y/y to $6.0 billion on +16% growth in Commercial Finance Group loan portfolio (2022 annual guidance +10-15%), +19% growth in Business Enterprise Solutions (2022 annual guidance +10-15%) and +178% growth in Specialized Finance (2022 annual guidance +20-30%)
- Equipment leasing portfolio +31% y/y to $773 million (2022 annual guidance +10-15%) with 69% of new assets comprised of high credit-quality prime leases
- Multi-unit insured portfolio +2% to $4.2 billion (2022 guidance 0-5%)
EQ Bank Again Named Top in Canada by Forbes
- With EQ Bank customer growth of +32% y/y to 266,188 (including 15,000+ new account openings in the first quarter, further increasing to more than 270,000 as of May 1, 2022), EQ Bank continues to demonstrate why its digital platform is a better choice for Canadians who are looking to gain an edge through features that are built to help customers make more money, save time and benefit from transparency
- EQ Bank deposits increased $1.5 billion or 25% y/y (2022 annual guidance +20-30%) to $7.3 billion
- With the second quarter introduction of AI-enabled identity verification technology, opening an EQ Bank account using various forms of government-issued ID should become even easier for customers and is expected to support additional account and deposit growth
- In recognition of its leadership, the EQ Bank platform was recently named top Schedule I Bank in Canada on the Forbes World's Best Banks list for 2022 – a title it also held in 2021
Solid Progress on Path to Closing the Acquisition of Concentra Bank in 2022
- On February 7, 2022, Equitable Bank announced its intent to acquire Concentra Bank for an estimated $470 million, Canada's 13th largest Schedule I bank, which will add new customers, significant scale in core business lines and the opportunity to achieve mid-single digit EPS accretion in the first full year following closing including from $30 million+ in annual synergies within the first two years
- The acquisition is subject to satisfaction of customary closing conditions and receipt of required regulatory approvals, including those required under the Bank Act (Canada), the Trust and Loan Companies Act (Canada), and the Competition Act (Canada)
- A formal Application to acquire a significant and controlling interest in Concentra Bank was filed with OSFI on February 28, 2022 and is currently undergoing review for approval
Credit Quality Indicators Reflect Long-Term Success in Risk Management
- PCL was a net benefit of $0.1 million in Q1 2022 (Q1 2021 net benefit $0.8 million, Q4 2021 benefit $1.4 million) as future expected losses recorded in 2020 continued to be released because of improving macroeconomic variables
- Net impaired loans declined to 0.22% at March 31, 2022 compared to 0.36% a year ago reflecting net reductions of $26.8 million in single family mortgages and $6.9 million of equipment leases over the past 12 months, partially offset by $6.0 million in conventional commercial loans. Management does not expect to incur material loss on these loans
- Equitable remains well reserved for credit losses with allowances as a percentage of total loan assets of 14 bps at March 31, 2022 compared to 22 bps at March 31, 2021
- Realized losses were less than 1 basis point of total loan assets or $1.0 million in Q1 – better even than the Bank's industry-leading 10-year credit history– compared to $2.5 million or 3 basis points in Q1 2021
- The Bank's risk management outlook for full-year 2022 is founded on a constructive view of Canadian residential and commercial real estate with expected credit loss provisions to return to pre-pandemic levels, assuming the Canadian economy continues on its path to recovery, while mortgage arrears rates in both the Personal and Commercial Bank segments are expected to remain low
Strong Capital and Liquidity Even with Record Capital Deployment
- Liquid assets1 were $3.0 billion or 8.0% of total assets at March 31, 2022, a prudent level that reflects upcoming obligations, compared to the deliberately elevated level of $3.2 billion or 10.2% a year ago when pandemic-related uncertainties were much higher. Retail and securitization funding markets remain liquid and efficient
- Equitable Bank's Common Equity Tier 1 ratio1 was 13.5% at March 31, 2022 compared to 13.3% at December 31, 2021, driven by quarterly earnings retention and a $50 million capital investment funded through Equitable Group Inc.'s new funding facility
New Milestone Reached with Bank's Institutional Deposit Note Program
- During the first quarter, the Bank simultaneously closed two deposit note offerings, raising a combined total of $500 million – its largest total issuance to date – to bring its total Deposit Note program to $1.95 billion
- Included in the successful offering was a $250 million, 1.8-year fixed rate note at 2.753% due December 4, 2023 and a $250 million, 4-year fixed rate note at 3.362% due March 2, 2026, priced respectively at 123 and 162 basis points over the interpolated Government of Canada bond curve
- Despite market volatility, both offerings were well oversubscribed, reflecting investor confidence in the Bank
- Retail funding markets also feature extraordinary liquidity compared to historical norms, supporting further deposit growth potential
NCIB and DRIP
- In the first quarter, Equitable's common share Dividend Reinvestment Plan (DRIP) was reinstated to enable shareholders to reinvest their cash dividends to purchase additional common shares at a 2% discount to the volume weighted average trading price of the shares on the TSX for the five trading days immediately preceding the dividend payment date. Common shares issued through the DRIP are from the Bank's treasury
- In the fourth quarter of 2021, Equitable Group renewed its normal course issuer bid (NCIB), allowing it to repurchase up to 2,325,951 of its common shares and 289,340 of its non-cumulative 5-year reset preferred shares Series 3, representing approximately 10% of its public float as at December 10, 2021. No shares were purchased under this renewed NCIB during the first quarter
Equitable Announces 4% Q/Q Increase in Common Share Dividend or 57% Y/Y Growth
- Equitable's Board of Directors declared a common share dividend of $0.29 per common share or $1.16 annualized, payable on June 30, 2022 to shareholders of record June 15, 2022
- This represents an 57% increase over the $0.185 dividend declared a year ago or a 4% increase over the dividend declared in February 2022
- The latest increase reflects Equitable's philosophy of growing the dividend while maintaining a payout ratio that is much lower than other Canadian banks and using incremental capital to fuel asset expansion with high future ROE as well as the recent lifting of a pandemic-related regulatory moratorium restricting Canadian banks from raising dividends
- Equitable's Board also declared a quarterly dividend of $0.373063 per preferred share, payable on June 30, 2022 to preferred shareholders of record at the close of business June 15, 2022
- Equitable's dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation
Equitable Produces First-Ever ESG Report
- In May 2022, the Bank issued its inaugural Environmental, Social and Governance (ESG) Report, providing detailed data on its dedicated environmental and social programs that are overseen by the Board of Directors through the recently expanded mandate of its Governance and Nominating Committee
- The Report, available on the Bank's Investor Relations website, is modelled on industry best practices and recommendations made by the Sustainability Accounting Standards Board and the Task Force on Climate-Related Financial Disclosures
- As a result of the Bank's focus on ESG, Equitable's Sustainalytics risk rating improved to 21.1, its MSCI rating is AA and S&P's Global Corporate Sustainability Assessment of Equitable significantly improved year over year
Institutional Investor Day Set for June 13, 2022 in Person
- Equitable's senior leadership team will showcase the next phase of the Bank's strategies, profile growth opportunities and elaborate on digital innovations at the Globe & Mail Centre in Toronto's King East Design District
- A replay will be available at eqbank.investorroom.com following the event
"Every measure of Equitable's performance in Q1, whether reported or adjusted, demonstrated that challenging the status quo in Canadian banking with purpose is creating value for our stakeholders. In addition to expanding adjusted revenue1 by 26% (reported +25%) and earnings1 by 34% (reported +27%) year over year, we continued to invest in top talent, process and product innovation – while again delivering a Canadian banking best-in-class efficiency ratio. Our strategic focus on conventional asset growth, and diversification in sources and uses of funding is allowing us to maintain strong and stable margin performance while deploying resources to closing the Concentra Bank acquisition later in 2022. With these priorities and our resilient business model across economic cycles, we have conviction in the Bank's ability to achieve consistent north-star performance of greater than 15% ROE for the full year of 2022, building off the foundation of our record results in the first quarter," said Chadwick Westlake, Chief Financial Officer of Equitable.
Analyst Conference Call and Webcast: 8:30 a.m. ET Eastern May 11, 2022
Equitable will host its first quarter conference call and webcast on Wednesday May 11, 2022. To access the call live, please dial (416) 764-8609 five minutes prior to the start time. The listen-only webcast with accompanying slides will be available at eqbank.investorroom.com/events-webcasts.
Call Archive
A replay of the call will be available until May 25, 2022 at midnight at (416) 764-8677 (passcode 369923 followed by the number sign). Alternatively, the webcast will be archived on the Bank's website.
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Consolidated balance sheets (unaudited)
Consolidated statements of income (unaudited)
Consolidated statements of comprehensive income (unaudited)
Consolidated statements of changes in shareholders' equity (unaudited)
Consolidated statements of cash flows (unaudited)
About Equitable
Equitable Group Inc. trades on the Toronto Stock Exchange (TSX: EQB, EQB.PR.C and EQB.R) and serves more than 340,000 Canadians through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking and through its EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists. Please visit equitablebank.ca for details.
Cautionary Note Regarding Forward-Looking Statements
Statements made by the Bank in the sections of this news release, in other filings with Canadian securities regulators and in other communications include forward-looking statements within the meaning of applicable securities laws (forward-looking statements). These statements include, but are not limited to, statements about the Bank's objectives, strategies and initiatives, financial performance expectations and other statements made herein, whether with respect to the Bank's businesses or the Canadian economy. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "guidance", "planned", "estimates", "forecasts", "outlook", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases which state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur", "be achieved", "will likely" or other similar expressions of future or conditional verbs. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, closing of transactions, performance or achievements of the Bank to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to capital markets and additional funding requirements, fluctuating interest rates and general economic conditions including, without limitation, impacts as a result of COVID-19, global geopolitical risk, legislative and regulatory developments, changes in accounting standards, the nature of our customers and rates of default, and competition as well as those factors discussed under the heading "Risk Management" in the MD&A and in the Bank's documents filed on SEDAR at www.sedar.com. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current credit, interest rate and liquidity conditions affecting the Bank and the Canadian economy. Although the Bank believes the assumptions used to make such statements are reasonable at this time and has attempted to identify in its continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Certain material assumptions are applied by the Bank in making forward-looking statements, including without limitation, assumptions regarding its continued ability to fund its loan business, a continuation of the current level of economic uncertainty that affects real estate market conditions including, without limitation, impacts as a result of COVID-19, continued acceptance of its products in the marketplace, as well as no material changes in its operating cost structure and the current tax regime. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Bank does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.
Non-Generally Accepted Accounting Principles (GAAP) Financial Measures
In addition to GAAP prescribed measures, this news release references certain non-GAAP measures, including adjusted financial results, that we believe provide useful information to investors regarding the Bank's financial condition and results of operations. Readers are cautioned that non-GAAP measures often do not have any standardized meaning, and therefore, are unlikely to be comparable to similar measures presented by other companies.
Adjusted financial results
On February 7, 2022, Equitable Bank announced that it entered into a definitive agreement to acquire a majority interest in Concentra Bank (Concentra), subject to customary closing conditions and regulatory approvals, and is expected to close in the second half of 2022. As a result of the announced agreement, Equitable Bank has incurred certain acquisition costs beginning in Q4 2021. To enhance comparability between reporting periods, increase consistency with other financial institutions, and provide the reader with a better understanding of the Bank's performance, adjusted results are being introduced starting Q1 2022. Adjusted results are non-GAAP financial measures.
Adjustments impacting current and prior periods:
Concentra acquisition/integration costs, pre-tax:
- Q1 2022 – $5.1 million of acquisition and integration related costs and $0.9 million of interest expenses paid to subscription receipt holders1, and
- Q4 2021 – $0.7 million of acquisition costs.
The following table presents a reconciliation of GAAP reported financial results to non-GAAP adjusted financial results.
• Reconciliation of adjusted efficiency ratio
• Reconciliation of adjusted return on equity (ROE)
Other non-GAAP measures and ratios
• Assets under management (AUM): is the sum of total assets reported on the consolidated balance sheet and loan principal derecognized but still managed by the Bank.
• Conventional loans: are the total on-balance sheet loan principal excluding Prime single family and Insured multi-unit residential mortgages.
• Net interest margin (NIM): this profitability measure is calculated on an annualized basis by dividing net interest income by the average total interest earning assets for the period.
• Pre-provision pre-tax income: is the difference between revenue and non-interest expenses.
Other financial and banking measures and terms
• Book value per common share: is calculated by dividing common shareholders' equity by the number of common shares outstanding.
• CET1 ratio: this key measure of capital strength is defined as CET1 Capital as a percentage of total RWA. This ratio is calculated for the Bank in accordance with the guidelines issued by OSFI. CET1 Capital is defined as shareholders' equity plus any qualifying other non-controlling interest in subsidiaries less preferred shares issued and outstanding, any goodwill, other intangible assets and cash flow hedge reserve components of accumulated other comprehensive income.
• Efficiency ratio: this measure is used to assess the efficiency of the Bank's cost structure in terms of revenue generation. This ratio is derived by dividing non-interest expenses by revenue. A lower efficiency ratio reflects a more efficient cost structure.
• Liquid assets: is a measure of the Bank's cash or assets that can be readily converted into cash, which are held for the purposes of funding loans, deposit maturities, and the ability to collect other receivables and settle other obligations.
• Operating leverage: is the growth rate in revenue less the growth rate in non-interest expenses.
• Return on equity (ROE): this profitability measure is calculated on an annualized basis and is defined as net income available to common shareholders as a percentage of the weighted average common equity outstanding during the period.
• Risk-weighted assets (RWA): represents the Bank's assets and off-balance sheet exposures, weighted according to risk as prescribed by OSFI under the CAR Guideline.
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SOURCE Equitable Group Inc. | https://www.whsv.com/prnewswire/2022/05/10/equitable-delivers-record-earnings-roe-surpasses-top-end-target-range-dividend-increases-again/ | 2022-05-11T02:35:16Z |
AUSTIN, Texas, May 10, 2022 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) ("Oracle") announced today that it has extended its tender offer in connection with the acquisition of Cerner Corporation (Nasdaq: CERN) ("Cerner") until June 6, 2022.
In accordance with the terms of its merger agreement with Cerner, Cedar Acquisition Corporation, a subsidiary of OC Acquisition LLC, which is a subsidiary of Oracle, has extended the all-cash tender offer for $95.00 per share for all of the issued and outstanding shares of common stock of Cerner (the "Shares") to 12:00 midnight, Eastern Time, at the end of the day on June 6, 2022. The tender offer was previously scheduled to expire at 12:00 midnight, Eastern Time, at the end of the day on May 11, 2022.
The tender offer remains subject to, among other conditions, clearances under applicable foreign competition and foreign direct investment laws. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer. Except for the extension of the tender offer, all other terms and conditions of the tender offer remain unchanged. The tender offer may be extended further in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the "SEC").
American Stock Transfer & Trust Company LLC, the depositary for the tender offer, has indicated that as of 12:00 midnight, Eastern Time, at the end of the day on May 9, 2022, approximately 29,782,150 Shares had been validly tendered into and not validly withdrawn from the tender offer, representing approximately 10.1% of the outstanding Shares.
About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
Trademarks
Oracle, Java, and MySQL are registered trademarks of Oracle Corporation.
Cautionary Statement Regarding Forward-Looking Statements
This document may contain certain forward-looking statements about Oracle and Cerner, including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of Cerner, anticipated customer benefits and general business outlook. When used in this document, the words "can", "will", "expect", "opportunity", "promises", "goal" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Cerner, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibilities that the transaction will not close or that the closing may be delayed, that the anticipated synergies may not be achieved after closing, and that the combined operations may not be successfully integrated in a timely manner, if at all; general economic conditions in regions in which either company does business; the impact of the COVID-19 pandemic on how Oracle, Cerner and their respective customers are operating their businesses and the duration and extent to which the pandemic will impact Oracle's or Cerner's future results of operations; and the possibility that Oracle or Cerner may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Cerner.
In addition, please refer to the documents that Oracle and Cerner, respectively, file with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Oracle's and Cerner's respective operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Except as required by law, neither Oracle nor Cerner is under any duty to update any of the information in this document.
Additional Information about the Acquisition and Where to Find It
This communication does not constitute an offer to buy or solicitation of an offer to sell Shares. This communication is for informational purposes only. The tender offer is not being made to, nor will tenders be accepted from, or on behalf of, holders of Shares in any jurisdictions in which the making of the tender offer or the acceptance thereof would not comply with the laws of that jurisdiction.
The tender offer is being made pursuant to a Tender Offer Statement on Schedule TO (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) filed by Cedar Acquisition Corporation with the SEC on January 19, 2022, as amended or supplemented from time to time. In addition, on January 19, 2022, Cerner filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC related to the tender offer, which has been amended or supplemented from time to time. Holders of Shares are urged to read these documents carefully (as each may be amended or supplemented from time to time) because they contain important information that holders of Shares should consider before making any decision regarding tendering their Shares. The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, are available to all holders of Shares at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC's website at www.sec.gov.
Oracle and Cerner also file annual, quarterly and special reports and other information with the SEC, which are available at the SEC's website at www.sec.gov.
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SOURCE Oracle | https://www.whsv.com/prnewswire/2022/05/10/expiration-date-tender-offer-cerner-corporation-shares-extended-june-6-2022/ | 2022-05-11T02:35:23Z |
SILVER SPRING, Md., May 10, 2022 /PRNewswire/ -- Today, the U.S. Food and Drug Administration is providing an update on its work to increase the availability of infant and specialty formula products. On Feb. 17, the agency warned consumers not to use certain powdered infant formula products from Abbott Nutrition's Sturgis, Michigan facility, and Abbott initiated a voluntary recall of certain products. Since that time, the agency has been working with Abbott and other manufacturers to bring safe products to the U.S. market.
"We recognize that many consumers have been unable to access infant formula and critical medical foods they are accustomed to using and are frustrated by their inability to do so. We are doing everything in our power to ensure there is adequate product available where and when they need it," said FDA Commissioner Robert M. Califf, M.D. "Ensuring the availability of safe, sole-source nutrition products like infant formula is of the utmost importance to the FDA. Our teams have been working tirelessly to address and alleviate supply issues and will continue doing everything within our authority to ensure the production of safe infant formula products."
Prior to the voluntary recall of several infant formula products produced at the Abbott Nutrition facility, the FDA was working to address supply chain issues associated with the pandemic including those impacting the infant formula industry. The FDA continues to take several significant actions to help increase the current supply of infant formula in the U.S. In fact, other infant formula manufacturers are meeting or exceeding capacity levels to meet current demand. Notably, more infant formula was purchased in the month of April than in the month prior to the recall.
Leveraging all of the tools at its disposal to support the supply of infant formula products, the FDA is:
- Meeting regularly with major infant formula manufacturers to better understand their capacity to increase production of various types of infant formulas and medical foods. The infant formula industry is already working to maximize their production to meet new demands. Efforts already underway by several infant formula manufacturers include optimizing processes and production schedules to increase product output, as well as prioritizing product lines that are of greatest need, particularly the specialty formulas.
- Helping manufacturers bring safe product to the market by expediting review of notifications of manufacturing changes that will help increase supply, particularly in the case of the specialized formulas for medical needs.
- Monitoring the status of the infant formula supply by using the agency's 21 Forward food supply chain continuity system, combined with external data. 21 Forward was developed during the pandemic to provide a comprehensive, data-backed understanding of how COVID-19 is currently impacting food supply chains.
- Compiling data on trends for in-stock rates at both national and regional levels to help understand whether the right amount of infant formula is available in the right locations, and if not, where it should go.
- Expediting the necessary certificates to allow for flexibility in the movement of already permitted products from abroad into the U.S.
- Offering a streamlined import entry review process for certain products coming from foreign facilities with favorable inspection records.
- Exercising enforcement discretion on minor labeling issues for both domestic and imported products to help increase volume of product available as quickly as possible.
- Reaching out to retailer stakeholder groups to request that their members consider placing purchase limits on some products in order to protect infant formula inventories for all consumers.
- Not objecting to Abbott Nutrition releasing product to individuals needing urgent, life-sustaining supplies of certain specialty and metabolic formulas on a case-by-case basis that have been on hold at its Sturgis facility. In these circumstances, the benefit of allowing caregivers, in consultation with their healthcare providers, to access these products may outweigh the potential risk of bacterial infection. The FDA is working to ensure health care provider associations and stakeholders understand information about the risks and benefits of pursuing this product.
It's important to understand that only facilities experienced in and already making essentially complete nutrition products are in the position to produce infant formula product that would not pose significant health risks to consumers. The FDA established an Incident Management Group to continue coordinating longer-term activities, which is focused on working with other major infant formula manufacturers to increase supply and helping to ensure that production of infant formula products can safely resume at Abbott Nutrition's Sturgis facility, among other activities.
The agency continues to advise against making infant formulas at home and encourages caregivers to work with their child's health care provider for recommendations on changing feeding practices, if needed.
The FDA will continue to dedicate all available resources to help ensure that infant formula products remain available for use in the U.S. and will keep the public informed of progress updates.
Additional Information:
- FDA Investigation of Cronobacter Infections: Powdered Infant Formula (February 2022)
- Jan. 31-March 18, 2022 FDA Inspection Form 483
- Powdered Infant Formula Recall: What to Know | FDA
- CDC Information on Cronobacter Infection and Infants
Media Contact: Veronika Pfaeffle, 301-310-2576
Consumer Inquiries: 888-723-3366
The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation's food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products
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SOURCE U.S. Food and Drug Administration | https://www.whsv.com/prnewswire/2022/05/10/fda-takes-important-steps-improve-supply-infant-specialty-formula-products/ | 2022-05-11T02:35:30Z |
- May is Wildfire Awareness Month and schools should prepare to mitigate the harmful health effects wildfire smoke has on the indoor air in buildings by utilizing Certified HEPA filters and portable Air Filtration solutions provided by Box Pure Air
- For wildfire smoke, the US Association of Home Appliances (AHAM) recommends a smoke CADR equal to the square feet of a room, which is 33% higher than the smoke CADR for regular smoke.
- The California EPA suggests HEPA filtration be used anytime the Air Quality Index (AQI) exceeds 100. A reading of '101-150' is categorized as being "unhealthy for sensitive groups," and a reading of '151-200' is deemed "unhealthy for everyone"
CHARLESTON, S.C., May 10, 2022 /PRNewswire/ -- Wildfire season has become a year-round concern for many regions of the country. Even at this moment, there are several active fires burning across the southwestern United States. May is recognized as Wildfire Awareness Month for many, especially regions that are greatly impacted. When a wildfire occurs nearby, the decision to close or evacuate a school is inevitable. However, as we have seen over the past several years, wildfire smoke can settle in communities hundreds of miles from the location of the fire and impact the health of students and school district operations. Schools can take steps to prepare for days with smoky air and protect their students' health, including purchasing and having ready-to-deploy BOX Pure Air Certified HEPA filters and portable Air Filtration products. On smoky days, schools should keep children indoors if the air quality is 'unhealthy for sensitive groups' or worse and it is essential to deploy solutions to improve indoor air quality. Schools can utilize federal money including the $121 Billion allocated through the federal COVID relief funds to improve indoor air for students and staff dealing with the effects of smoke during wildfire season as well as protect from airborne pathogens such as SARS Covid-2.
Peak wildfire season typically occurs during late summer into early fall when there has been little rainfall for an extended period of time. With money currently available to schools across the country, there has never been a better time to simultaneously invest in indoor air purification and wildfire preparedness to ensure healthy indoor air quality for staff, teachers, and students. High concentrations of smoke can trigger a range of symptoms including burning eyes, a runny nose, cough, phlegm, wheezing, and difficulty breathing which is particularly problematic if you have asthma, or heart or lung disease.
During wildfire season, smoke can pollute the air. Children are particularly at risk for health effects from exposure to wildfire smoke and ash, mostly because their lungs are still in the process of developing. Hazardous air pollutants, such as acetaldehyde, acrolein, formaldehyde, and benzene contribute to the cumulative irritant properties of smoke. These air pollutants are of concern because of their differential impact on infants and children compared to adults. Outdoor air pollution, such as wildfire smoke, must be addressed in school buildings alongside the implementation of the indoor air quality improvements recommended to reduce potential airborne exposure to coronavirus SARS-CoV-2, the virus that causes COVID-19. For indoor spaces, ventilation and filtration need to be optimized.
"Every environmental and clean building organization agrees that one of the highest priorities in combating poor and unhealthy indoor air quality caused by wildfire smoke is the combination of increasing airflow and increasing the level of filtration," said BOX Pure Air CEO, Ryan Cowell; "People often look to solve indoor air quality issues by opening windows or doors, but in areas affected by wildfires, letting in outside air only makes things worse. This is a problem that must be treated from the inside out and portable air purification is the best and most efficient way of doing so."
In addition to the coughing, wheezing and overall difficulty breathing caused by smoke produced from wildfires, consequences also include school closures. Creating a safer school environment using portable HEPA air purifiers can reduce some of those lost days. For example, the state of California had 34,183 cumulative days missed due to emergency closures (weather, natural disasters, student safety, etc.) across public schools between 2002 and 2019. Of those, 21,442 days have been due to wildfires affecting 6,542 schools and over three million students.
According to the California EPA, portable HEPA air purifiers should be used in classrooms any time the Air Quality Index (AQI) exceeds 100. BOX Pure Air HEPA filters are 99.99% effective in removing the most penetrating particle size of 0.3 microns meaning they can clean the air of any size dust particle blown in from a wildfire. Box Pure Air's HEPA Filters and Certified HEPA Portable Air Purification products are in compliance with FEMA guidelines when treating air quality issues caused by natural disasters.
One of the keys to maintaining a safe indoor air school environment that protects students, teachers, and staff during wildfire season is to avoid letting outdoor air contaminated by wildfire smoke into the building. Deploying and positioning powerful portable air filtration systems is key. Box Pure Air's industrial suite of products were designed to filter and clean the air in commercial and educational settings. Our Certified HEPA filters can be ordered separately to work with existing systems in addition to a combination of our Mesa and Peak units that can be used in combination for classrooms and office settings. For large spaces such as cafeterias, gymnasiums, and libraries we recommend our Apex 2.0 unit.
"The benefits of using Certified HEPA portable air purifiers to treat wildfire smoke can play out right before our eyes, watching smoke clear out of a classroom for example." According to Ryan Cowell, CEO of Box Pure Air; "There are other sensory benefits from the use of our products as well. Our odor-fighting carbon filter treats the smoke smell, which can be a lingering issue for schools all year round unless treated promptly."
For more information on BOX Pure Air and our products visit www.boxpureair.com.
For more information on wildfire preparedness guides, live maps, and wildfire building guidelines, visit Wildfire Resources.
About BOX Pure Air
Box Pure Air strives to provide the best products to help clean air through the deployment of high-efficiency air purification technologies.
Contact Information
info@boxpureairsolutions.com
843.936.6649
www.boxpureair.com
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SOURCE Box Pure Air | https://www.whsv.com/prnewswire/2022/05/10/federal-funding-is-available-schools-implement-certified-hepa-air-purification-solutions-improve-harmful-indoor-air-quality-caused-by-wildfire-smoke/ | 2022-05-11T02:35:37Z |
PHILADELPHIA, May 10, 2022 /PRNewswire/ --
FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, announced the Ningbo Intermediate People's Court in Zhejiang Province, China, granted FMC Agro Singapore Pte. Ltd a pre-suit preliminary injunction to stop infringement of a chlorantraniliprole patent. Chlorantraniliprole is FMC's leading insecticide ingredient branded as Rynaxypyr® active.
The pre-suit preliminary injunction restrains Zhejiang Yongtai Technology Co. Ltd. ("Yongtai Technology") from engaging in any activity of offering to sell chlorantraniliprole until FMC's patent expires, including by doing so at trade fairs.
"We are pleased with the Court's decision, which reflects its understanding of the urgency of this matter and its impact on the crop protection market in China," said Michael Reilly, FMC executive vice president, general counsel and secretary. "The principles decided by the Court are also significant for future infringement actions, as being one of very few cases anywhere in China where a trial court has granted pre-suit injunctive relief under the China Patent Law and standards outlined by the Chinese Supreme Court. The Ningbo Intermediate People's Court determined that Yongtai Technology's infringing acts violated the China Patent Law and created a need for urgent relief to protect FMC's patent rights."
For nearly four decades, FMC has provided proprietary insect, disease and weed control technologies to ensure that Chinese farmers have access to world-class product technologies. The company employs more than 600 people in China, where it operates a world-class innovation center in Shanghai and two manufacturing facilities in Shanghai and Jiangsu.
"Our intellectual property rights are an essential tool to drive innovation and continued investment in the Chinese crop protection market," said Pramod Thota, interim president for FMC's Asia Pacific Region and president of FMC U.S.A. "This decision reinforces the value of our commitment to bring innovative, high-quality crop protection solutions to growers in China and around the world."
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,400 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Rynaxypyr is a trademark of FMC Corporation or an affiliate. Always read and follow all label directions, restrictions and precautions for use. Products listed may not be registered for sale or use in all states, countries or jurisdictions.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2021 Form 10K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
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SOURCE FMC Corporation | https://www.whsv.com/prnewswire/2022/05/10/fmc-corporation-obtains-pre-suit-injunction-china-patent-infringement/ | 2022-05-11T02:35:44Z |
SAN JOSE, Calif., May 10, 2022 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that Patrick Harshman, Chief Executive Officer, and Jeremy Rosenberg, Senior Vice President of Business Development, will participate in a fireside chat at the 17th Annual Needham Technology & Media Conference on Monday, May 16, 2022 at 12:45 p.m. PT / 3:45 p.m. ET.
A live video webcast of the fireside chat will be available on Harmonic's website at https://investor.harmonicinc.com/. An archived webcast will remain posted on the company's investor relations website for 90 days.
About Harmonic
Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized cable access and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized cable access networking via the industry's first virtualized cable access solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.
Harmonic, the Harmonic logo and other Harmonic marks are owned by Harmonic Inc. or its affiliates. All other trademarks referenced herein are the property of their respective owners.
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SOURCE Harmonic Inc. | https://www.whsv.com/prnewswire/2022/05/10/harmonic-participate-17th-annual-needham-technology-amp-media-conference/ | 2022-05-11T02:35:51Z |
30% Increase in Net Revenue, Driven by 61% Increase in Subscriber Revenue
MIAMI, May 10, 2022 /PRNewswire/ -- Hemisphere Media Group, Inc. (NASDAQ: HMTV) ("Hemisphere" or the "Company"), the only publicly traded pure-play U.S. media company targeting the high growth U.S. Hispanic and Latin American markets with leading broadcast and cable television and digital content platforms, today announced financial results for the first quarter ended March 31, 2022.
President and Chief Executive Officer of Hemisphere, Alan Sokol, said "We reported solid first quarter results, as we posted a 30% increase in net revenues. WAPA once again delivered strong results with growth in both advertising and retransmission revenues, and the channel has marked yet another quarter of market leading ratings. We have successfully expanded our distribution with launches on virtual MVPDS, including our recent launch on FuboTV and our launch on YouTube TV today, May 10, 2022. Subsequent to quarter end, Pantaya continued to grow its subscriber base, with currently over one million subscribers."
Financial Results for the Three Months Ended March 31, 2022
Net revenues were $48.8 million for the three months ended March 31, 2022, an increase of $11.2 million, or 30%, as compared to $37.6 million for the comparable period in 2021 due to an increase in our subscriber revenue. Subscriber revenue increased $12.3 million, or 61%, primarily due to the inclusion of Pantaya, as well as growth in retransmission revenue, offset in part by a decline in U.S. pay television subscribers. Advertising revenue was up slightly due to an increase in advertising revenue at WAPA, offset by a decrease in advertising revenue at our U.S. cable networks. Other revenue decreased $1.1 million driven by the timing of licensing of our content to third parties.
Operating expenses for the three months ended March 31, 2022, were $54.5 million, an increase of 68%, as compared to $32.5 million for the comparable period in 2021. The increase is primarily due to the inclusion of Pantaya's expenses, primarily programming, marketing, streaming delivery, personnel costs, and third-party distribution fees, as well as higher non-cash charges related to the amortization of intangible assets, offset in part by expenses incurred in the prior year period in connection with the acquisition of Pantaya.
Net loss attributable to Hemisphere Media Group, Inc. was $13.2 million for the three months ended March 31, 2022, as compared to net income of $33.4 million for the same period in 2021. The decrease was primarily due to a $30.1 million one-time non-cash gain recognized on the existing 25% equity interest in Pantaya upon the step acquisition of the remaining 75% equity interest on March 31, 2021.
Adjusted EBITDA was $4.4 million for the three months ended March 31, 2022, as compared to Adjusted EBITDA of $15.7 million for the same period in 2021. The decrease was primarily due to investment in marketing and content at Pantaya, which is in growth and investment mode.
As of March 31, 2022, the Company had $251.6 million in debt and $37.3 million of cash. The Company's gross leverage ratio was approximately 6.8x, and net leverage ratio was approximately 5.8x.
During the three months ended March 31, 2022, the Company funded $0.3 million into Canal 1 and $1.4 million in capital expenditures.
The following tables set forth the Company's financial performance for the three months ended March 31, 2022 and 2021, as well as select financial data as of March 31, 2022 and December 31, 2021:
The following table presents estimated cable television subscriber information (unaudited):
Non-GAAP Reconciliations
Within Hemisphere's first quarter 2022 press release, Hemisphere makes reference to the non-GAAP financial measure, "Adjusted EBITDA." Whenever such information is presented, Hemisphere has complied with the provisions of the rules under Regulation G and Item 2.02 of Form 8-K. When presenting Adjusted EBITDA, Hemisphere's management adds back (deducts) from net (loss) income attributable to Hemisphere Media Group, Inc., net income attributable to non-controlling interest, depreciation expense, amortization of intangibles, gain from FCC spectrum repack and other, other expense, net, loss (gain) on equity method investment activity, interest expense and other, net, transaction and non-recurring expenses, income tax (benefit) expense, and stock-based compensation. The specific reasons why Hemisphere's management believes that the presentation of this non-GAAP financial measure provides useful information to investors regarding Hemisphere's financial condition, results of its operations and cash flows has been provided in the Form 8-K filed in connection with this press release. A reconciliation of net (loss) income attributable to Hemisphere Media Group, Inc. to Adjusted EBITDA can be found above in the table that sets forth Hemisphere's financial performance for the three months ended March 31, 2022 and 2021.
Proposed Transactions
On May 9, 2022, the Company announced that it has entered into a definitive agreement to be acquired for $7.00 per share in cash by a subsidiary of Gato Investments LP ("Gato"), a portfolio investment of Searchlight Capital Partners, L.P. ("Searchlight"). The offer price per share of common stock represents a premium of approximately 86% over Hemisphere's closing share price on May 6, 2022, the last trading day prior to announcement and a premium of approximately 63% over the 30-day volume weighted average share price for the period ended May 6, 2022. Upon completion of the transaction, Hemisphere will become a private company wholly-owned by Gato.
Concurrently with the entry into the definitive agreement with Gato, Hemisphere entered into a separate agreement to sell Pantaya, the leading Spanish language streaming platform in the U.S., to TelevisaUnivision in exchange for cash plus certain Puerto Rican radio assets including WKAQ AM and KQ105 FM currently owned by TelevisaUnivision. The TelevisaUnivision transaction is subject to customary closing conditions. Hemisphere contemplates using the net cash proceeds from the TelevisaUnivision transaction to promptly prepay Hemisphere's outstanding senior secured term loans.
A special committee (the "Special Committee") of the Board of Directors of Hemisphere (the "Board"), comprised solely of independent and disinterested directors and advised by its own independent legal and financial advisors, unanimously recommended that the Board approve the transaction and determined it was in the best interests of Hemisphere and its disinterested shareholders. Acting upon the recommendation of the Special Committee, the members of the Board unanimously approved the transaction and recommends that shareholders vote in favor of the transaction.
The merger agreement includes a 30-day "go-shop" period expiring June 7, 2022, during which Hemisphere may actively solicit and consider alternative acquisition proposals. There can be no assurances that the "go-shop" process will result in a superior proposal, and Hemisphere does not intend to communicate developments regarding the process unless and until Hemisphere determines that additional disclosure is required or desirable.
The merger is expected to close in the third quarter of 2022, subject to the satisfaction of customary closing conditions, including approval by Hemisphere stockholders, receipt of certain regulatory approvals and the consummation of the TelevisaUnivision transaction.
Conference Call
In light of the above proposed transactions, as is customary during the pendency of an acquisition, Hemisphere will not be hosting a conference call in conjunction with its first quarter 2022 earnings release. For further detail and discussion of our financial performance, please refer to our upcoming quarterly report on Form 10-Q for the quarter ended March 31, 2022.
Forward-Looking Statements
Statements in this press release and oral statements made from time to time by representatives of Hemisphere may contain certain statements that are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the proposed acquisition of the Company by Gato, the impact of the acquisition of Pantaya on the Company's business and financial performance, Pantaya's subscriber growth prospects, the Company's business plans, and the U.S. Hispanic population growth. Without limitation, any statements preceded or followed by or that include the words "targets," "plans," "believes," "expects," "intends," "will," "likely," "may," "anticipates," "estimates," "projects," "should," "would," "could," "might," "expect," "positioned," "strategy," "future," or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this press release due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to deterioration of general economic conditions, political instability, social unrest, and public health crises, such as the occurrence of a global pandemic like COVID-19, either nationally or in the local markets in which Hemisphere operates, Puerto Rico's uncertain political climate, as well as delays in the disbursement of earmarked federal funds on the local economy and advertising market, the effects of extreme weather and climate events on Hemisphere's business as well as Hemisphere's counterparties, customers, employees, third-party vendors and suppliers, changes in the distribution and viewing of television programming, including the expanded deployment of personal video recorders, subscription and advertising video on demand, internet protocol television, mobile personal devices and personal tablets and their impact on advertising and affiliate revenue, short and long-term migration shifts in Puerto Rico, Hemisphere's ability to timely and fully recover proceeds under our insurance policies and Hemisphere's ability to successfully integrate acquired assets, in particular, Pantaya, and achieve anticipated synergies, statements relating to Hemisphere's future financial and operating results (including growth and earnings), plans, objectives, expectations and intentions and other statements that are not historical facts. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in Hemisphere's reports filed with the Securities and Exchange Commission ("SEC"), including Hemisphere's quarterly reports on Form 10-Q and its annual report on Form 10-K. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, Hemisphere's actual results, performance, or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. We may also be faced with unforeseen risks and uncertainties related to the proposed acquisition of the Company by Gato. These risks, uncertainties and other factors include, but are not limited to, (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction; (2) risks related to the satisfaction of the conditions to closing (including the failure to obtain necessary regulatory approvals or the necessary approvals of the Company's stockholders) in the anticipated timeframe or at all; (3) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company's common stock; (4) disruption from the proposed transaction making it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with the Company's customers, vendors and others with whom it does business; (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction agreement entered into in connection with the proposed transaction; (6) risks related to disruption of management's attention from the Company's ongoing business operations due to the proposed transaction; (7) significant transaction costs; (8) the risk of litigation and/or regulatory actions related to the proposed transaction or unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future; (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions; (10) the ability to meet expectations regarding the timing and completion of the proposed transaction; (11) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks; and (12) changes resulting from the COVID-19 pandemic. Forward-looking statements included herein are made as of the date hereof, and Hemisphere undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
About Hemisphere Media Group, Inc.
Hemisphere Media Group, Inc. (HMTV) is the only publicly traded pure-play U.S. media company targeting the high-growth U.S. Hispanic and Latin American markets with leading television, streaming and digital content platforms. Headquartered in Miami, Florida, Hemisphere owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, the leading broadcast television network in Puerto Rico, the leading Spanish-language subscription streaming service in the U.S., a Spanish-language content distribution company and has an ownership interest in a leading broadcast television network in Colombia.
Contact:
Edelman Financial Communications for Hemisphere Media Group
Danielle O'Brien
917-444-6325
Danielle.obrien@edelman.com
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SOURCE Hemisphere Media Group, Inc. | https://www.whsv.com/prnewswire/2022/05/10/hemisphere-media-group-announces-first-quarter-2022-financial-results/ | 2022-05-11T02:35:58Z |
BLACK ENTERPRISE brings together hundreds of entrepreneurs and companies focused on sharing resources, funding ventures, building businesses, and closing the racial wealth gap
NEW YORK, May 10, 2022 /PRNewswire/ -- BLACK ENTERPRISE, the nation's No. 1 Black digital media brand, will bring back its national Entrepreneurs Summit as an in-person event in Philadelphia at the Pennsylvania Convention Center, May 18–20. The Entrepreneurs Summit is well established as the premier annual event dedicated to the success of Black entrepreneurs and the growth, profitability, and wealth-creation potential of Black-owned businesses. In partnership with Host sponsor Nationwide, BLACK ENTERPRISE will feature high-engagement elements, maximizing real-time, peer-to-peer learning, coaching, mentorship, and networking opportunities for attendees.
A major highlight of the multiday event will be an exclusive fireside chat with hip-hop Mogul, Actor, Producer, and No Limit Records Founder Percy "Master P" Miller, conducted by BLACK ENTERPRISE CEO Earl "Butch" Graves Jr. After a slow underground start, Miller achieved fame and success not only for himself but for many of his stable of artists, including Mystikal, Kane & Abel, and Snoop Dogg, who signed with No Limit in 1998 after falling out with Death Row. Miller has also established himself as a savvy businessman with a range of investments and interests beyond music.
The mission of the Entrepreneurs Summit is to provide access to the connections, capital, expertise, ideas, and inspiration established and aspiring Black business owners need to make money, build companies, and create wealth. The Entrepreneurs Summit will feature engagement-driven, content-rich sessions, workshops, and coaching designed to help entrepreneurs expand their business networks and position their companies for opportunities and growth. The relevance and urgency of the Entrepreneurs Summit is heightened by the emphasis on diversity, equity, and inclusion in response to the disparities revealed by the global coronavirus pandemic and a renewed sense of urgency around investing in Black entrepreneurship and closing America's racial wealth gap.
"After successfully presenting this event as a virtual experience last year, we are extremely excited about the Entrepreneurs Summit's return as a unique in-person experience, with all of the most enduring and valued elements of the premier national event for Black entrepreneurs, founders, and business owners," says BLACK ENTERPRISE CEO Earl Graves Jr. "BLACK ENTERPRISE is more committed than ever to our 50-plus-year legacy as the No. 1 champion of Black entrepreneurship to build Black wealth."
"Promoting economic inclusion and empowerment has long been a priority for Nationwide, and we're proud to invest in the growth and success of Black business owners," said Ramon Jones, chief marketing officer for Nationwide. "As host sponsor of this Summit for 12 years now, we remain committed to supporting emerging and established entrepreneurs as they create legacies and give back to their communities."
Other confirmed speakers for the Summit include Glamazon Beauty Cosmetics Founder and former supermodel Kim Baker; Wieden + Kennedy New York Chief Strategy Officer Dr. Marcus Collins; Maconomics Founder Ross Mac; Approved Jets Co-Founders Aaron Wilson and Kelvin "PJ Kev" Mensah; SmartHustle.com Founder and CEO Ramon Ray; Buttah Skin Founder Dorion Renaud; Lobos 1707 Tequila CEO Dia Simms; Nationwide Director of Relationship Management, Supplier Diversity and Sustainability Procurement Michelle Smith; Canvas Beauty CEO and Founder Stormi Steele; Women in Media Global Founder Danielle P. Jeter; EonXI Founder and Chairman Sherrard Harrington; Host and Style Influencer Kela Walker; and many more.
Other sessions and highlights of the Entrepreneurs Summit:
- Tapping Into the Billion-Dollar Beauty Industry
- Procurement Equity: Getting Your Slice of the Pie
- Cash for Content: How to Capitalize in the Creator Economy
- Navigating Supply Chain Challenges
- Understanding the Metaverse to Power Your Business
- ….And more!
In addition to Entrepreneurs Summit Host sponsor Nationwide, Presenting sponsors include MasterCard and McDonald's; Platinum sponsors include Braun and JPMorgan Chase; and Corporate sponsors include ComcastRISE, FedEx, Instacart, and Walmart.
The Entrepreneurs Summit begins Wednesday, May 18, and concludes Friday, May 20, 2022. To register and find out more information, visit www.blackenterprise.com/entrepreneurssummit. Search #BESUMMIT for additional updates and information about the Entrepreneurs Summit on social media.
Interested press should contact Alfred Edmond Jr. at 201-243-8269 (text message) or via e-mail at edmonda@blackenterprise.com. (Include "ENTREPRENEURS SUMMIT MEDIA REQUEST" in the subject line.)
BLACK ENTERPRISE EXISTS TO INSPIRE, EMBOLDEN, AND EMPOWER The Black COMMUNITY TO EMBARK ON THE LIFETIME JOURNEY FROM AMBITION TO ACHIEVEMENT. BLACK ENTERPRISE is the No.1 Black media brand, with more than 10 million monthly unique visitors. Since 1970, BLACK ENTERPRISE has been the premier business, career, investing, and wealth-building resource for African Americans. BLACK ENTERPRISE produces video and podcast programming, virtual and in-person business and lifestyle events, and other digital media. Visit www.blackenterprise.com for more information.
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SOURCE BLACK ENTERPRISE | https://www.whsv.com/prnewswire/2022/05/10/hip-hop-mogul-percy-master-p-miller-share-insights-entrepreneurs-summit-nations-largest-conference-black-owned-businesses-black-founders-wealth-creators-returning-an-in-person-event-philadelphia-may-18-20/ | 2022-05-11T02:36:06Z |
Additional Results Include 7.0 g/t Au over 71.6 m, 9.1 g/t Au over 24.7 m & 9.0 g/t Au over 18.3 m
RENO, Nev., May 10, 2022 /PRNewswire/ - i-80 GOLD CORP. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce positive initial drill results from its maiden drill program at the Company's 100%-owned Ruby Hill Property ("Ruby Hill" or "the Property") located in Eureka County, Nevada.
Initial drilling in 2021 was focused on confirming high-grade mineralization within the Ruby Deeps Zone. In addition to the high-grade tenor of mineralization, several positive observations have been made: significant oxide mineralization has been encountered in the upper zones; ground conditions appear to be very favourable; and intersection widths have met or exceeded expectations. Assay results for the first five (5) holes have been received and demonstrate the potential for impressive gold grades and widths of mineralization (see Figures 1 & 2 and Table 1). In 2022, drilling continues to focus on defining, and expanding, the Ruby Deeps Zone in addition to the upper "426" horizon while also testing several additional high-potential targets on the Property.
Highlight results from initial drilling in the Ruby Deeps horizon:
- iRH21-02: 7.0 g/t Au over 71.6 m (0.20 oz/ton – 235.0 ft) incl. 9.0 g/t Au over 15.8 m (0.26 oz/ton – 52.0 ft) and 7.7 g/t Au over 16.5 m (0.23 oz/ton – 54.0 ft)
- iRH21-03: 9.0 g/t Au over 18.3 m (0.26 oz/ton – 60.0 ft) incl. 10.7 g/t Au over 12.2 m (0.31 oz/ton – 40.0 ft)
- iRH21-04: 9.1 g/t Au over 24.7 m (0.26 oz/ton – 81.0 ft) incl. 11.0 g/t Au over 16.2 m (0.32 oz/ton – 53.0 ft)
- iRH21-05: 7.1 g/t Au over 78.6 m (0.21 oz/ton – 258.0 ft) incl. 10.1 g/t Au over 41.8 m (0.29 oz/ton – 137.0 ft)
The ongoing infill and step-out drill program will aide in the advancement of the Company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit. Infill drilling is being completed for initial mine planning and to upgrade resources for the completion of an economic study. Step-out drilling is also being completed with a focus on expanding mineralization in advance of completing a revised resource estimate at year-end. The current program at Ruby Hill is one of several ongoing and planned drill programs in 2022 that are expected to comprise in excess of 50,000 metres.
The Carlin-type mineralization at Ruby Hill is comprised of an upper zone of mixed oxide and sulfide mineralization known as "426" and a lower zone of sulphide mineralization known as the Ruby Deeps. It is expected that the 426 zone will be the first mineralized body accessed from underground. Hole iRH21-01 experienced excessive deviation, veering west and crossing the Holly Fault prior to intersecting the projected target, while all other holes intersected mineralization as projected.
It is expected that refractory mineralization mined from the underground operation at Ruby Hill will be trucked to the Company's Lone Tree facility, once operational. Oxide mineralization can be processed on-site at the existing heap leach pad, or at the existing CIL plant. i-80's substantial existing infrastructure at Lone Tree and Ruby Hill is expected to reduce potential exposure to the current inflationary environment.
"Ruby Hill is one of several projects that we are looking to advance to mine development in the next twelve months and early results from our first-ever drill program have confirmed our belief that the property has excellent potential to host a world-class, Carlin-type gold deposit", stated Ewan Downie, CEO of i-80. "The extent of Carlin-type alteration and mineralization in the Eureka district is comparable to Nevada's most productive gold districts on the Carlin, Getchell, and Battle Mountain trends. We are not only excited by the impressive widths of high-grade mineralization we are seeing in our early drilling, but also by the apparent rock quality that appears more competent than expected and bodes well for mining". The Ruby Hill Property is one of the Company's primary assets and is host to the core infrastructure within the Eureka District of the Battle Mountain-Eureka Trend. The Property is host to multiple gold, gold-silver and poly-metallic (base metal) deposits.
Table 1 – Highlight Assay Results from Ruby Hill Drilling
Investor Day Webcast & Conference Call
Ruby Hill will be highlighted at the Company's Investor Day presentation being held today at the Toronto Board of Trade commencing at 4:30 pm EDT. The in-depth presentation will provide the opportunity for shareholders, analysts and investors to learn more about the Company's growth plans and ask questions of i-80 Gold's executive team. A live conference call and webcast will also be available to those that are unable to attend in person. Details of the conference call and webcast can be found below.
Conference Call
North American Toll-free: 1-888-204-4368
Confirmation #: 3896886
Webcast Link
Click HERE to access the webcast or visit our website at www.i80gold.com.
Conference Call Replay
A recording of the call can be accessed until May 17, 2022.
North American Toll-free Replay: 1-888-203-1112
Replay Code: 3896886
QAQC Procedures
All samples were submitted to either ALS Minerals (ALS) or Paragon Geochemical Assay Laboratories (PAL) both of Sparks, NV, which are ISO 9001 and 17025 certified and accredited laboratories, independent of the Company. Samples submitted through PAL and ALS are run through standard prep methods and analysed using FA-Pb30-ICP (Au; 30g fire assay) and 48MA-MS (48 element Suite; 0.5g 4-acid digestion/ICP-MS) methods for PAL and Au-AA23 (Au; 30g fire assay) and ME-ICP41 (35 element suite; 0.5g Aqua Regia/ICP-AES) for ALS. ALS and PAL also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold Corp's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.
Qualified Person
Tim George, PE, Mine Operations Manager, reviewed the technical and scientific information contained in this press release and is a Qualified Person within the meaning of NI 43-101.
About i-80 Gold Corp.
i-80 Gold Corp. is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company's advanced-stage property portfolio to complement existing gold production from the Ruby Hill open pit.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources at Ruby Hill and the potential of the Ruby Hill project . Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
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SOURCE i-80 Gold Corp | https://www.whsv.com/prnewswire/2022/05/10/i-80-gold-drilling-intersects-71-gt-au-over-786-m-including-101-gt-au-over-418-m-ruby-hill/ | 2022-05-11T02:36:13Z |
The Lakes Treatment Center is now in-network with Kaiser Permanente®, which provides healthcare insurance coverage to millions of Americans. Becoming in-network with Kaiser will allow the clinic to offer affordable care to even more people.
COPPERPOLIS, Calif., May 10, 2022 /PRNewswire/ -- The Lakes Treatment Center is one of the most trusted addiction treatment centers in Northern California. It recently announced that it has become in-network with Kaiser Permanente®, also called just Kaiser in many settings.
Kaiser is one of the country's largest healthcare insurance providers. With the in-network status becoming official, The Lakes Treatment Center can now offer its personalized addiction treatment plans to more people due to increased treatment affordability. Depending on an individual's healthcare plan, most or all of the cost of addiction treatment at the clinic can be covered by the insurer.
It has always been a focus of The Lakes Treatment Center to ensure it provides only the best possible addiction treatment programs and therapies for people struggling with alcohol addiction and various drug addictions. Not only did the treatment center earn its licensure from the California Department of Health Care Services, but it has also been accredited by The Joint Commission.
To bring affordable addiction treatment plans to more people, The Lakes Treatment Center is not only in-network with Kaiser. It is also in-network with many other major healthcare insurance providers, including Aetna®, Anthem BlueCross®, Halcyon®, and First Health®.
Inquiring parties can visit https://thrive.kaiserpermanente.org/ for more information about healthcare insurance through Kaiser Permanente®. Additional information about The Lakes Treatment Center can be found by visiting https://www.thelakestreatmentcenter.com/.
Media Contact:
Travis Wilson
travis@lakestreatmentcenter.com
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SOURCE The Lakes Treatment Center | https://www.whsv.com/prnewswire/2022/05/10/lakes-treatment-center-is-now-in-network-with-kaiser-permanente/ | 2022-05-11T02:36:19Z |
Solar and wind facilities advancing both companies' sustainability goals
OAKVILLE, ON, May 10, 2022 /PRNewswire/ - Liberty, a part of Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("Algonquin"), announced today its collaboration with Meta (NASDAQ: FB) on the new 112 MW Deerfield II wind project in Michigan. This long-term power purchase agreement (PPA) for 100 percent of the energy and environmental attributes from Deerfield II, builds upon the existing renewable energy partnership the companies have at the operating Altavista solar facility in Virginia. The Deerfield II wind project is expected to contribute to Liberty's ESG goals and help Meta continue to support its operations with 100% renewable energy. The project is expected to achieve commercial operations in 2023.
Located in Huron County, Michigan, adjacent to Liberty's Deerfield I wind facility, the Deerfield II wind project represents a significant opportunity to advance the growth of Michigan's renewable electricity supply, while supporting Liberty and Meta's sustainability objectives. The project represents an investment of approximately $200 million for Liberty and is expected to:
- Provide approximately $2 million per year in property tax revenue
- Support local schools, roads and various care facilities
- Inject capital into the community by compensating local landowners
- Create 200 temporary and permanent jobs for workers
Jeff Norman, Chief Development Officer for Algonquin, commented: "Wind and solar energy investments are critical streams within our growth program, and we're very pleased to be able to expand upon our existing partnership with Meta." Mr. Norman also noted: "Our company is all about thinking globally and acting locally. Projects like Altavista solar and Deerfield II allow us to have that dual-level impact by supporting Meta's operations with 100% renewable energy while contributing to the surrounding communities."
Liberty will develop, engineer, construct, own and operate the Deerfield II wind project. Construction began in April 2022.
"Since 2020, our global operations have been supported by 100% renewable energy and, as we continue to grow, it is increasingly important that we have strong partnerships to bring new renewable energy to the grid," said Urvi Parekh, head of renewable energy at Meta. "We appreciate the work Liberty has done to help us bring these 112 MW to the grid in support of our operations."
For more information on how Liberty (Algonquin) and Meta are advancing sustainable solutions, please visit:
- Algonquin: algonquinpower.com/sustainability
- Meta: sustainability.fb.com
About Algonquin Power & Utilities Corp. and Liberty
Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, Algonquin is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. Algonquin is a global leader in renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities. Algonquin owns, operates, and/or has net interests in over 4 GW of installed renewable energy capacity.
Algonquin is committed to delivering growth and the pursuit of operational excellence in a sustainable manner through an expanding global pipeline of renewable energy and electric transmission development projects, organic growth within its rate-regulated generation, distribution, and transmission businesses, and the pursuit of accretive acquisitions and value enhancing recycling of assets.
Algonquin's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares, Series 2018-A subordinated notes, Series 2019-A subordinated notes and equity units are listed on the New York Stock Exchange under the symbols AQN, AQNA, AQNB, and AQNU, respectively.
Visit AQN at www.algonquinpowerandutilities.com and follow us on Twitter @AQN_Utilities.
Caution Regarding Forward-Looking Information
Certain statements included in this news release contain information that is "forward-looking" for purposes of applicable securities laws (collectively, "forward-looking statements"). The words "will", "expects" and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding expected future generation capacity, production, completion date, community benefits, job creation and tax revenue with respect to the Deerfield II wind project. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. Readers are cautioned that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors include those set out in Algonquin's Management Discussion & Analysis and Annual Information Form for the year ended December 31, 2021, each of which is available on SEDAR and EDGAR. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Algonquin undertakes no obligation to update any forward-looking statements or information to reflect new information, subsequent or otherwise.
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SOURCE Liberty | https://www.whsv.com/prnewswire/2022/05/10/liberty-meta-announce-expansion-renewables-partnership-include-112-mw-deerfield-ii-wind-project-michigan/ | 2022-05-11T02:36:26Z |
NEW YORK, May 10, 2022 /PRNewswire/ -- LivePerson, Inc. (Nasdaq: LPSN) is providing confirmatory notice, pursuant to the requirements of Nasdaq Listing Rule 5635(c)(4), of recent grants of equity-based incentive awards that LivePerson made under its Inducement Plan.
LivePerson established the LivePerson Inc. 2018 Inducement Plan (the "Inducement Plan") to provide equity-based incentive awards to new hires. In connection with recent employee hires through April 18, 2022, LivePerson has made grants of RSUs to 67 employees totaling 525,248 Shares and grants of stock options to 13 employees totaling 220,463 Shares.
All RSU and stock option grants vest 25% per year over 4 years and are subject to the grantee's continued employment on the scheduled vesting date. Each award under the Inducement Plan was granted as an inducement material to the grantee entering into employment with the Company.
About LivePerson, Inc.
LivePerson (NASDAQ: LPSN) is a leading Conversational AI company creating digital experiences that are Curiously Human. Every person is unique, and our technology makes it possible for companies to treat their audiences that way at scale. Our customers, including leading brands like HSBC, Orange, and GM Financial, can now meet consumers where they are across social media, messaging, email, voice, and more. Nearly a billion conversational interactions are powered by our Conversational Cloud each month. Out of that comes a uniquely rich data set for AI for brands to build connections that are anything but artificial. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our Conversational AI, please visit liveperson.com.
Media Contact:
Mike Tague
pr@liveperson.com
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SOURCE LivePerson, Inc. | https://www.whsv.com/prnewswire/2022/05/10/liveperson-reports-inducement-grants-under-nasdaq-listing-rule-5635c4/ | 2022-05-11T02:36:33Z |
LONG BEACH, Calif., May 10, 2022 /PRNewswire/ -- Mack Trucks today announced that it was offering a new program and a new safety offering for customers of the Mack LR® Electric model. Mack made the announcement at the Advanced Clean Transportation (ACT) Expo, May 9-12, at the Long Beach Convention Center, Long Beach, California.
Mack launched the Electrify My Refuse Route Program, a unique-to-Mack campaign that rewards customers for sharing their refuse routes to prepare the fleet's readiness for the Mack LR Electric refuse vehicle. Mack also announced the availability of Sensta Technologies PreView collision warning technology on several Mack models, including the Mack LR Electric.
"Mack continues to invest in programs and technology to improve the total cost of ownership for customers," said Jonathan Randall, Mack Trucks senior vice president of sales and commercial operations. "Helping our customers achieve their sustainability goals, the Electrify My Refuse Route Program mitigates costs associated with electrification infrastructure. Along with sustainability, safety remains a priority for the refuse industry and Mack. PreView improves safety for drivers and others on the road, alerting operators when an object is in a blind spot and helping customers, and the industry, maintain enhanced levels of operating safety."
Through the Electrify My Refuse Route program, customers download the Mack Route Recorder app to receive up to $750 in Mack parts gift cards for sharing valid refuse collection routes. Customers who then purchase or lease the Mack LR Electric refuse vehicle can receive $25,000 for charging hardware reimbursement and $10,000 in additional charging reimbursements for each further vehicle purchased.
To qualify for parts gift cards and the additional incentives, customers email Mack their recorded collection routes. The customer is rewarded $250 in gift cards for each submitted qualified route, with a limit of three per customer. Those that receive charging hardware reimbursement following a purchase or lease are limited to specific charger models and manufacturers.
PreView is available on the Mack LR Electric, diesel-powered Mack LR and Mack TerraPro models. Utilizing four radar sensors, one on each side of the vehicle, the PreView radar system detects objects and Vulnerable Road Users (VRU) that may be located in a driver's blind spot. Vulnerable Road Users are pedestrians, cyclists and motorcyclists.
Indicators in the A-Pillars flash lights and audible alerts are sounded when the system detects a metallic object or a VRU in a blind spot. Available as an option and factory-installed on new builds, customers may also retrofit their trucks with PreView by contacting their local Mack dealer.
The next generation LR Electric, launched in March 2022, features 42 percent more energy and a standard 376 kWh total battery capacity offering an increased range. Featuring twin electric motors, the Mack LR Electric offers 448 continuous horsepower and 4,051 lb.-ft. of peak output torque from zero RPM. The LR Electric has a two-speed Mack Powershift transmission, Mack mRIDE™ suspension and Mack's proprietary S462R 46,000-pound rear axles.
Easily identifiable by a copper-colored Bulldog on the cab denoting the electric drivetrain, the LR Electric's vehicle propulsion is offered through four NMC (Nickel Manganese Cobalt Oxide) lithium-ion batteries that are charged though a 150 kW, SAE J1772-compliant charging system. The four batteries also provide all power for every onboard accessory, driven through 12V, 24V and 600V circuits. The two-stage regenerative braking system helps recapture energy from the hundreds of stops the vehicle makes each day with an increasing load.
Mack began serial production of the LR Electric in 2021 at its Lehigh Valley Operations facility in Macungie, Pennsylvania, where all Class 8 Mack vehicles for North America and export are assembled.
Mack originally announced the Electrify My Refuse Route Program and PreView earlier today at WasteExpo 2022 in Las Vegas. Mack also announced at the show that the City of Ocala, Florida, purchased two Mack LR Electric models, and Miami-Dade County, Florida, purchased one LR Electric refuse vehicle.
For more information and full program terms and conditions of the Electrify My Refuse Route Program, please visit Mack booth No. 2028 at ACT Expo or your local Mack dealer. For more information about the Mack LR Electric, PreView, please visit Mack booth No. 2028 at ACT Expo, your local Mack dealer or www.macktrucks.com
NOTE TO EDITORS: These photos can be viewed and downloaded at https://press.macktrucks.com.
Dedicated to durability, reliability and meeting the needs of customers, Mack Trucks has provided purpose-built transportation solutions for more than a century. Today, Mack is one of North America's largest producers of heavy-duty trucks, and Mack® trucks are sold and serviced through an extensive distribution network in more than 45 countries. Mack trucks, diesel engines and transmissions sold in North America are assembled in the United States. Mack manufacturing locations are certified to the internationally recognized ISO 9001 standard for quality, ISO 14001 standard for environmental management systems and OHSAS 18001 standard for health and safety management systems. Mack is also a proud sponsor of Share the Road, an American Trucking Associations public information campaign aimed at enhancing the safety of our nation's roadways.
Mack Trucks is part of the Volvo Group, which is driving prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase customer uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 100,000 people and serves customers in more than 190 markets. In 2021, net sales amounted to about $43 billion. For more information, please visit www.volvogroup.com.
For more information about Mack, visit our website at www.macktrucks.com
KIMBERLY PUPILLO
DIRECTOR – PUBLIC RELATIONS
MACK TRUCKS, INC.
336-662-1787
kimberly.pupillo@macktrucks.com
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SOURCE Mack Trucks | https://www.whsv.com/prnewswire/2022/05/10/mack-announces-electrify-my-refuse-route-program-preview-collision-warning-technology-mack-lr-electric/ | 2022-05-11T02:36:40Z |
SPRINGFIELD, Colo., May 10, 2022 /PRNewswire/ -- 22 Moon Bears were flown from Seoul, South Korea to Los Angeles International Airport where they were cleared by U.S. wildlife officials and then transported by special carrier to The Wild Animal Refuge in Springfield, Colorado.
Upon their arrival at the 10,000-acre Baca County facility, the 22 Moon Bears – which are more formally known as Asiatic Black Bears – were unloaded into temporary holding facilities where each bear could relax and be evaluated by the Sanctuary's full-time Veterinary staff.
The massive rescue effort dubbed "Project Free: The Bear" is a collaboration between the Korean Animal Welfare Association (KAWA), an NGO based in Seoul, South Korea, and The Wild Animal Sanctuary (TWAS), which is registered U.S. non-profit organization based in Colorado.
TWAS is the largest carnivore sanctuary in the world and operates multiple facilities in Colorado and Texas, with the Wild Animal Refuge (TWAR) being the largest facility with natural forested habitat for Bears.
The 22 bears originated at a breeding farm in South Korea that previously used the bears in gallbladder and bile extraction processes. Although the commercial harvesting of Bear gallbladders and extracting Bear bile was once a common practice throughout Asian countries, the process has come under attack in recent years.
Through a cooperative agreement between Bear farmers and the Korean government, all captive Moon Bears living within South Korea were sterilized in 2017 in an effort to stop all breeding. Although the reproduction of Bears ceased at that time, farmers were still allowed to kill and harvest gallbladders from Bears 10 years of age or older. This process will continue with the 300-plus Moon Bears that are still held in small steel cages within the country.
In 2020, KAWA officials contacted TWAS's Executive Director, Pat Craig, to request assistance with saving the Bears. Craig agreed to dedicate more than a thousand acres of prime Refuge habitat to the Moon Bear rescue effort, and subsequently began arranging for the first 22 Bears to be flown halfway around the world.
However, with the onset of the COVID-19 pandemic, all viable transportation options were shut down for nearly two years. Finally, in early 2022, enough air cargo flights became available to fly the Bears out of South Korea. Upon arriving in Los Angeles, the Bears were promptly transported by a specialized rescue team to The Wild Animal Refuge.
As each Bear's paws were able to touch earth for the first time in their life, both the American and Korean Veterinarians in attendance at the unloading remarked how amazing it was to see the Bears react. Having spent their entire lives laying, sitting and walking on steel bars, the Bears quickly had to learn how to balance and walk on the incredibly different substrate.
General In-Bum Chun, a decorated South Korean veteran, was onsite with other KAWA officials during this long-awaited moment: "Americans have gained the respect of the world and Koreans not because of big ships or guns, but because of the humanity of its people which was demonstrated again and again by the Wild Animal Sanctuary in Denver, Colorado".
Further efforts to rescue the remaining Moon Bears is ongoing and more information is available via the Sanctuary's website listed below.
About The Wild Animal Sanctuary and KAWA
The Wild Animal Sanctuary is the largest nonprofit carnivore sanctuary in the world, with over 700 rescued animals including Lions, Tigers, Bears, Wolves, Leopards and other large carnivores living in large natural habitats. Established in 1980, the Sanctuary operates three locations within Colorado and Texas with more than 10,000 acres available for abused, abandoned and confiscated carnivores. The Sanctuary specializes in rehabilitating captive wildlife so they can be released into natural habitats where they can roam freely and live with others of their own kind. More information is available at www.wildanimalsanctuary.org
The Korean Animal Welfare Association is the largest nonprofit organization for animals in Korea. According to our slogan 'All creatures in pain and suffering have the rights to relief and to be free from it.' We work to reduce the use of animals and to restrict the kinds of animals used by human beings. We advocate the renovation of animal protection laws, encourage the rescue and adoption of abused animals, and conduct research and investigation of animal welfare. https://www.animals.or.kr/home/english
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SOURCE The Wild Animal Sanctuary | https://www.whsv.com/prnewswire/2022/05/10/massive-airlift-rescue-22-moon-bears-finally-completed/ | 2022-05-11T02:36:47Z |
KNOXVILLE, Tenn., May 10, 2022 /PRNewswire/ -- With its season opener approaching, One Knoxville SC is pleased to announce an exclusive business services partnership. One of the nation's Top 100 Accounting Firms, PYA, will be the Presenting Sponsor of the 2022 One Knoxville SC coaching staff.
One Knoxville SC, the club bringing professional soccer to Knoxville, is delighted to have another outstanding community partner in PYA. With the club's focus on steady, incremental growth within the American soccer landscape, a partnership with PYA provides an opportunity to work collaboratively with a respected local leader that understands what makes Knoxville unique.
Founded in Knoxville in 1983, PYA serves clients in all 50 states from offices in six cities. The firm is ranked by Forbes and by Inside Public Accounting as one of the Top Tax and Accounting Firms in the nation, and by Accounting Today as one of the Top 20 CPA firms in the Southeast and the largest headquartered in Knoxville. PYA remains deeply committed to its Knoxville heritage and has a long history of community support.
"We're thrilled to be partnering with PYA for our inaugural season," said Drew McKenna, Partner at One Knoxville SC. "With decades of community experience, PYA not only understands how to support businesses, but understands implicitly how to support Knoxville businesses. We couldn't be prouder of this partnership."
Marty Brown, PYA President and CEO, adds, "We are so grateful for the opportunity to be a part of this energetic team. The community engagement and support One Knoxville SC is fostering overlap so effectively with other exciting developments in our city and with our firm's core values. We are happy PYA can help bring it to life."
The One Knoxville SC season opens May 14th. Information available at: https://oneknoxsc.com/. Information on PYA is available at https://www.pyapc.com/.
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SOURCE PYA | https://www.whsv.com/prnewswire/2022/05/10/one-knoxville-sc-announces-partnership-with-pya/ | 2022-05-11T02:36:54Z |
Purpose-built for court systems to simplify, modernize and enhance virtual and hybrid hearings
OSLO, Norway, May 10, 2022 /PRNewswire/ -- Pexip, a global video communication platform provider, today announced that it has launched Pexip Virtual Courts. Pexip already has several customers within the judicial sector across the globe and this application has been developed based on a real demand for a purpose-built solution for virtual and hybrid court hearings.
While some justice systems were already using virtual court solutions prior to the pandemic, Covid-19 accelerated a worldwide shift toward modernizing legal procedures and the search for the best technology to enable these changes. Customers such as the HMS Courts and Tribunal Service in England and Wales, the New Mexico Justice System in the US, and Paulding County Georgia, rely on Pexip for a platform that maintains data privacy and levels the playing field for all participants, regardless of where they are located or how they are joining a remote court proceeding. The benefits of virtual courts are highly evident and include improved safety for defendants, plaintiffs and legal representatives, more efficient processes such as flexible scheduling that reduce case backlog, cost reductions associated with transportation of prisoners and witnesses, and a reduction in court overheads.
"Our customers have told us that what is important for them is a true-to-life, security-first experience that can be easily integrated into established court workflows. The Pexip Virtual Courts application is purpose-built for courts to simplify, modernize, and enhance communications and proceedings in courtrooms, helping judiciaries to virtualize their court flows and improve them through automations. Customers can create tailored experiences including branding and integrations for scheduling, authentication and compliance. We believe that judiciaries around the world will be delighted to see this application come to market," said John Thorneycroft, SVP Business Management.
CONTACT:
For more information, contact Thomas Edberg, Senior Director Business Management, thomas.edberg@pexip.com or Gillian Dalslaaen, VP Corporate Communications, gillian@pexip.com.
This information was brought to you by Cision http://news.cision.com
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SOURCE Pexip AS | https://www.whsv.com/prnewswire/2022/05/10/pexip-virtual-courts-solution-released-today/ | 2022-05-11T02:37:03Z |
MADISON, N.J., May 10, 2022 /PRNewswire/ -- Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced that RealScout, a real estate technology company that provides a full-featured search platform for real estate agents to collaborate with their clients during the home–buying process, was selected as the winner of the FWD Innovation Summit (FWD) 2022. Realogy's annual FWD competition is designed to accelerate technology innovation and help shape the future of the real estate services market. RealScout will receive $25k and prominent placement in Realogy's Open Ecosystem, a technology platform that brings together agents, brokers, partners and developers to enable choice, flexibility and customized solutions for home buying and selling and beyond.
"Our team loves this industry, and we are steadfast in our commitment to supporting it," said Andrew Flachner, president and co-founder of RealScout. "One of the most exciting parts of our plan involves the integration of our platform with Realogy's open ecosystem. We believe that's the way the industry is heading, Realogy is leading the way, and we're excited to be a part of that story."
FWD, Realogy's one-of-a-kind pitch competition, highlights forward-thinking technology, ideas and solutions to unlock opportunities for agents, brokers, and the consumers they serve. There were five finalists who presented their products and innovations to a panel of Realogy executives, brokers and agents. Runners up include Earnnest, Elm Street, Likely.ai and MaxaDesigns.
"All of the finalists of this year's FWD Innovation Summit presented rich and meaningful technology that aid in various aspects of the real estate market and services, so selecting a single winner wasn't an easy task," said Kacie Ricker, senior vice president of Product, Realogy. "RealScout has a consistent track record of delivering a high-quality product, which is proven by successful implementations throughout our brokerage network. Even better, their product strategy is strongly aligned with our Open Ecosystem vision, so we're very excited to add this powerful tool to our Marketplace. Working seamlessly with our existing tech tools such as MoxiWorks, RealScout is going to be a powerful tool in our agents' arsenals."
For more information about RealScout and their winning solution, please visit https://www.realscout.com.
About RealScout
RealScout empowers real estate agents to engage/convert their leads/SOI (sphere of influence) through automated consumer experiences powered by reliable and timely MLS data. Partnering with leading brokerages in over 150 markets, RealScout helps agents and brokers achieve higher conversion rates, customer retention, and marketing ROI. RealScout offers many robust integrations with leading real estate CRMs, as well as a GraphQL API for advanced use cases.
RealScout also powers "Buyer Graph Initiatives" (cooperatives of brokerages sharing buyer activity) in 18+ metros, providing access to valuable real-time market demand insights to brokers, agents, and their clients.
For more information, please visit: www.realscout.com.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,200 independent sales agents in the U.S. and approximately 136,400 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for 11 consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn's Top Companies in the U.S. the past two years, and honored on the Forbes list of World's Best Employers 2021.
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SOURCE Realogy Holdings Corp. | https://www.whsv.com/prnewswire/2022/05/10/realscout-wins-realogys-fwd-innovation-summit-2022/ | 2022-05-11T02:37:09Z |
STAMFORD, Conn., May 10, 2022 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it filed its Annual Report on Form 20-F for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission on April 29, 2022. The Annual Report on Form 20-F can be accessed on ReneSola Power's investor relations website at http://ir.renesolapower.com or on the SEC's website at www.sec.gov.
ReneSola Power will provide its shareholders and ADS holders with electronic copies upon request. Requests should be directed to IR.USA@renesolapower.com or by mail to ReneSola Ltd, Attn: Investor Relations, 850 Canal Street, 3rd Floor, Stamford, Connecticut 06902, United States.
About ReneSola Power
ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across number of regions where the solar power project markets are growing rapidly and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York. For more information, please visit www.renesolapower.com.
For investor and media inquiries, please contact:
In the United States:
ReneSola Ltd
Mr. Adam Krop
+1 (347) 577-9055 x115
IR.USA@renesolapower.com
IR@renesolapower.com
The Blueshirt Group
Mr. Yujia Zhai
+1 (860) 214-0809
yujia@blueshirtgroup.com
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SOURCE ReneSola Ltd. | https://www.whsv.com/prnewswire/2022/05/10/renesola-power-files-2021-annual-report-form-20-f/ | 2022-05-11T02:37:16Z |
STOCKHOLM, Sweden, May 10, 2022 /PRNewswire/ -- RhoVac AB ("RhoVac"), a Swedish cancer immunotherapy company, announces today on May 10th, 2022, that its phase IIb study in prostate cancer, BRaVac, has reached "Database Lock". This means that all data from the trial is now finally reported, cleaned and "locked" in the data base. The next step will be analysis to produce the results. As previously stated, RhoVac anticipates having its primary results no later than at the beginning of June.
RhoVac started the clinical phase IIb trial (BRaVac) with the company's drug candidate, RV001, (onilcamotide) late 2019, in prostate cancer patients with a biochemical recurrence (a rise in PSA) after local curative intent therapy. In November of 2020, RhoVac was awarded Fast Track Designation by the FDA for its drug candidate in this cancer indication. Patient recruitment was conducted in six European countries (Finland, Sweden, Denmark, the United Kingdom, Belgium and Germany) and in the United States. Recruitment ended in September 2021, when 180 patients had been included. The objective of the study is to show that onilcamotide can significantly prevent or delay disease progression in these patients, something for which no standard therapy is available today. Interim safety reviews have been conducted and no unexpected adverse reactions have been identified, confirming the anticipated safety of the drug. Now, the study has reached "Database Lock" with only a few weeks to go until the primary results are known. All results, including subgroup analyses, will be available in the summer.
CEO, Anders Månsson, comments: "BRaVac started at the end of 2019, and much of the study has been run in pandemic conditions, which it has taken extraordinary efforts to overcome. We are happy to conclude that we have overcome all obstacles, that our intermediary safety reviews have all been positive, and now, after database lock, we await with excitement and anticipation what the primary results will bring in terms of efficacy."
This disclosure contains information that RhoVac is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10-05-2022 20:50 CET.
CONTACT:
For more information, please contact:
Anders Månsson - CEO, RhoVac AB
Phone: +46 73 751 7278
E-mail: info@rhovac.com
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/rhovac/r/rhovac-ab-announces-database-lock-in-its-clinical-phase-iib-trial-of-onilcamotide,c3564545
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SOURCE RhoVac | https://www.whsv.com/prnewswire/2022/05/10/rhovac-ab-announces-database-lock-its-clinical-phase-iib-trial-onilcamotide/ | 2022-05-11T02:37:23Z |
The event featured performances by John Legend, Charlie Puth, and John Mulaney, and a live auction for a trip to space with Blue Origin
Robin Hood, Alexis Ohanian, & Mayor Eric Adams Announce Joint $100 Million Initiative for Child Care
NEW YORK, May 10, 2022 /PRNewswire/ -- Last night, Robin Hood's annual benefit raised $126 million, including a $50 million commitment from New York City toward a $100 million joint child care initiative. The event brought together the biggest names in entertainment, business, and philanthropy, and featured live performances from Charlie Puth, John Legend, and John Mulaney.
New York City Mayor Eric Adams, Deputy Mayor of Strategic Initiatives Sheena Wright, and Robin Hood CEO Richard R. Buery, Jr. announced the formation of a Child Care Quality & Innovation Initiative to expand access to high-quality, affordable child care programs across the five boroughs. Alexis Ohanian, the founder of Seven Seven Six and co-founder and former executive chairman of Reddit, joined the stage to announce a $25 million gift from his 776 Foundation towards Robin Hood's $50 million commitment. A $10 million commitment by Bezos Family Foundation was also announced.
"Last night was a testament to the generosity of the Robin Hood community who came together once again to raise a remarkable sum of $126 million – including a $50 million commitment from New York City," said Robin Hood's Chief Executive Officer, Richard R. Buery, Jr. "Robin Hood envisions a New York City where your starting point in life does not define where you end up in life, and we are so grateful to our donors and the amazing talent who joined us last night for helping us to continue that mission on behalf of the 1.4 million New Yorkers living in poverty."
Additionally, Blue Origin donated a once-in-a-lifetime experience for one lucky auction winner to travel to space on Blue Origin's New Shepard rocket. This "buy one give one" item enables a New York City public school teacher to also travel to space. The live auction raised $8 million for Robin Hood, thanks to a winning bid from Citadel Founder and CEO Ken Griffin. At Ken's request, Robin Hood will provide both seats to New York City public school teachers, in recognition of their commitment to advancing public education.
Highlights of the evening included:
- Thanks to a generous donation from Bombas, guests entered through an archway designed to look like the New York City skyline, constructed out of 5,200 pairs of Bombas socks, which will be distributed to New Yorkers experiencing homelessness via shelters citywide.
- Notable New Yorkers, including Tracy Morgan, Stephanie Ruhle, and New York Governor Kathy Hochul participated in the event through on-stage remarks, video messages, and voiceovers.
- Co-chairs included Lisa and Mark Bezos of HighPost Capital; Meredith Kopit Levien of The New York Times Company; Kathryn Minshew of The Muse; and Karen and Chuck Phillips of Recognize.
- Robin Hood partnered with A Greener Festival to track and reduce the event's environmental impact and will continue to work to integrate sustainable practices.
- Robin Hood's community partners Generation USA, Coney Island Prep, CUNY BMCC's Early Childhood Center, and All Our Kin were on full display in films and on-stage remarks throughout the evening.
- Charlie Puth delivered an exciting performance of his hit singles "Light Switch" and "Attention," followed by an emotional rendition of "See You Again" where he was joined by the student chorus at Staten Island's PS22.
- Alexis Ohanian spoke passionately about his experience growing up as a first generation Armenian-American born in Brooklyn, and his desire to leave a lasting legacy of giving back.
- Robin Hood Founder Paul Tudor Jones took the stage in a space suit to encourage attendees to give what they could, while building anticipation for the live auction.
- Mark Bezos spoke about his history with Robin Hood and his own life altering experience of traveling to space, as he introduced the auction item on behalf of Blue Origin.
- Auctioneer Lydia Fenet conducted a spirited live auction for the space trip, with the winning bid coming in at $8 million.
- A mock-up of Blue Origin's New Shepard crew capsule became a piece of notable decor.
- John Legend ended the evening on a high with a live concert featuring hits like "Ordinary People," "Save Room," and "All of Me."
- The Empire State Building lit up in Robin Hood Green in celebration of the organization's impact.
The 2022 Benefit builds on the success of last year's star-studded event, which featured Paul McCartney, Bruce Springsteen, Alicia Keys, The Jonas Brothers, Cecily Strong, Bowen Yang, and more, successfully raising $77.5 million in support of Robin Hood's effort to get families back on their feet, kids back on track, and New Yorkers back to work. As always, Robin Hood's board covers all administrative costs, so 100% of the funds raised will be invested in poverty-fighting programs citywide.
About Robin Hood:
Robin Hood has been fighting poverty in New York City since 1988. Because Robin Hood's board covers all overhead, 100% of every donation goes directly to the poverty fight. Last year, Robin Hood awarded $172 million in grants, filling a critical void during the COVID-19 pandemic by providing cash assistance, meals, housing, healthcare, education, and other urgent needs to one million New Yorkers impacted by COVID-19, as well as funding an array of programs and initiatives developed to elevate families out of poverty in New York City. Follow the organization on Twitter @RobinHoodNYC and learn more at www.robinhood.org.
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SOURCE Robin Hood | https://www.whsv.com/prnewswire/2022/05/10/robin-hoods-annual-benefit-raises-126-million-fight-against-poverty-new-york-city/ | 2022-05-11T02:37:30Z |
NEW YORK, May 10, 2022 /PRNewswire/ --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. II (NASDAQ: EMBK, EMBKW, NGAB, NGAB.U, NGAB.WS) between January 12, 2021 and January 5, 2022, inclusive (the "Class Period"), of the important May 31, 2022 lead plaintiff deadline.
SO WHAT: If you purchased Embark securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Embark class action, go to https://rosenlegal.com/submit-form/?case_id=4934 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Embark had performed inadequate due diligence into Embark Trucks Inc. ("Legacy Embark"); (2) Legacy Embark and the Company, following the November 2021 merger of Legacy Embark and Northern Genesis Acquisition Corp. II (the "Business Combination"), held no patents and an insignificant number of test trucks; (3) accordingly, Embark had overstated its operational and technological capabilities; (4) as a result of all the foregoing, Embark had overstated the business and financial prospects of the Company post-Business Combination; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Embark class action, go to https://rosenlegal.com/submit-form/?case_id=4934 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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SOURCE Rosen Law Firm, P.A. | https://www.whsv.com/prnewswire/2022/05/10/rosen-leading-law-firm-encourages-embark-technology-inc-fka-northern-genesis-acquisition-corp-ii-investors-secure-counsel-before-important-deadline-securities-class-action-embk-embkw-ngab-ngabu-ngabws/ | 2022-05-11T02:37:37Z |
LONG BEACH, Calif., May 10, 2022
- The groundbreaking SV6 EV stripped chassis is being showcased at the 2022 ACT Expo
- Set to shape the future of last-mile deliveries, the SV6 EV delivers peerless performance and environmental credentials
- SEA Electric provides the lightest, most cost-effective and best-performing EV solutions available to the market
/PRNewswire/ -- SEA Electric will showcase its latest developments on the game-changing SV6 EV stripped chassis at the upcoming Advanced Clean Transportation (ACT) Expo, to be held at Long Beach, CA, from May 9th to 12th.
The ACT Expo is the largest clean fleet event of its type, and the perfect backdrop to reveal further aspects of the SV6 EV platform, which was recently announced at Work Truck Week in Indianapolis, IN.
Caption: The groundbreaking SV6 EV stripped chassis is being showcased at the 2022 ACT Expo
At the heart of the Class 6 SV6 EV is the proprietary SEA-Drive(R) power-system, which leads the industry in terms of range, driving performance, weight and environmental credentials, with zero local emissions of carbon dioxide, methane or nitrous oxide.
Thanks to its medium-voltage architecture and no requirement for active thermal management of batteries, SEA Electric's solution is the lightest, most cost-effective and most efficient system available in the battery-electric last-mile delivery segment.
"Major fleets across the country that utilize a step van platform understand that zero-emissions power-systems are now proven and the way forward," said Tony Fairweather, Founder and CEO of SEA Electric.
"With the SEA SV6 EV, we bring to the market a complete package that offers all of the functionality required from these vehicles, complete with a proven, reliable all-electric architecture that leads the industry.
"One of the most exciting aspects of the shift to EV is the V2G (Vehicle-to-Grid) capabilities of the system, which will form the basis of the future energy ecosystem.
"With only 100,000 SV6 EVs on the road, it would represent the equivalent of the entire battery storage capacity that is currently available across the USA.
"The switch to zero emissions deliveries has environmental advantages, but importantly, provides mobile battery storage and paves the way to improved power grid security."
Powered by the SEA-Drive(R) 120b power-system, the SV6 EV covers applications with a GVWR up to 22,000lbs (Class 6), with its 335hp and 2,580lb-ft performance ratings ideal for any urban driving situation.
The 138kWh battery pack for the platform delivers a class-leading unladen range of up to 170 miles, while also capable of being configured for fast charging at up to 80kW.
The SV6 EV platform is packed with specialist innovations unique to the segment.
From all-encompassing telematics, including a smartphone app, back-end portal and integrated digital instrument cluster from Valid, to EV specific tires with a low rolling resistance, and an angular sensor on the electric power steering system, which actively conserves power, the advancements are numerous.
The package will have a raft of standard inclusions and optional extras comparable with any similar vehicle currently available, including driver comfort and safety items, which can be incorporated into popular body types, with various width and wheelbase options available. Advanced Driver-Assistance Systems include: Automatic Emergency Braking, Distance Alert/Distance Indication, Post-Collision Braking, Adaptive Cruise Control, Lane Departure Warning, Driver Alert System and Auto-High Beam Control.
For delivery drivers, the SEA Electric SV6 EV provides a comfortable work environment, with health and safety considerations including no noise, fumes, heat or vibrations, while fleets can rest assured with class leading warranty, and with extended warranties also available.
Durability testing for the package is set to commence in Q3 2022, with volume assembly to begin in Q1 2023, with conditional orders currently being taken.
Further announcements regarding Class 3 to 5 SEA SV stripped chassis models will be made in due course.
More information on SEA Electric is available at www.sea-electric.com.
To access and download high resolution images:
https://www.dropbox.com/sh/bdk1bcz6npgea0g/AADNkqJgMvwO7fsKEHxI1p9Ta?dl=0
About SEA Electric
Global automotive technology company SEA Electric was founded in Australia in 2012, creating its proprietary electric power-system technology (known as SEA-Drive(R)) for the world's urban delivery and distribution fleets, as well as front powered school bus applications.
Widely recognized as a market leader in the electrification of commercial vehicles on a global basis, SEA Electric commands a global presence, deploying product in six countries including USA, Australia, New Zealand, Thailand, Indonesia, and South Africa with collectively more than one million miles of independently OEM-tested and in-service international operation.
The company's global sales, after-sales and engineering are represented in all subsidiaries, whilst North America is home to the company's headquarters.
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SOURCE SEA Electric | https://www.whsv.com/prnewswire/2022/05/10/sea-sv6-ev-stars-act-expo/ | 2022-05-11T02:37:45Z |
NEW YORK, May 10, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Biohaven Pharmaceutical Holding Company Ltd. ("Biohaven" or the "Company") (NYSE: BHVN) in connection with the proposed acquisition of the Company by Pfizer Inc. ("Pfizer") (NYSE: PFE). Under the terms of the merger agreement, Pfizer will acquire all outstanding shares of Biohaven not already owned by Pfizer for $148.50 per share in cash. Biohaven common shareholders, including Pfizer, will also receive 0.5 of a share of New Biohaven per Biohaven common share, a new publicly traded company that will retain Biohaven's non-calcitonin gene-related peptide development stage pipeline compounds.
If you own Biohaven shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/bhvn
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating whether (i) Biohaven's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Biohaven's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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SOURCE Weiss Law | https://www.whsv.com/prnewswire/2022/05/10/shareholder-alert-weiss-law-investigates-biohaven-pharmaceutical-holding-company-ltd/ | 2022-05-11T02:37:51Z |
NEW YORK, May 10, 2022 /PRNewswire/ -- Weiss Law, a national shareholders' rights law firm, is investigating possible false claims, deceptive accounting and reporting practices, breaches of fiduciary duty, and violations of the federal securities laws by the Board of Directors and certain Company officers of Emergent BioSolutions Inc. (NYSE: EBS) ("Emergent" or the "Company"). According to a final report expected to be released today after a year-long investigation by the House of Representatives' Select Subcommittee on the Coronavirus Crisis, the Company, hired to produce hundreds of millions of coronavirus vaccine doses, hid from US Food and Drug Administration ("FDA") inspectors evidence of quality control problems in February 2021- six weeks before it alerted federal officials that 15 million doses were contaminated.
If you own Emergent shares and wish to discuss this investigation, or share information which you have, or if you have any questions concerning this notice or your rights or interests, visit our website at
https://www.weisslaw.co/news-and-cases/ebs
Or please contact:
Josh Rubin, Esq stocks@weisslaw.co
(212) 682-3025.
There is no cost or obligation to you.
A report released by the House and the Select Subcommittee on the Coronavirus Crisis found that nearly 400 million doses of coronavirus vaccine manufactured by Emergent were destroyed "due to poor quality control," including about 240 million doses in late 2020 and early 2021. The report, based on internal company emails, documents and interviews, expounds on Emergent executives' worries about deficiencies in the Company's quality control systems at its Bayview plant in Baltimore, MD.
A former Emergent executive acknowledged in an email that he had alerted other senior executives "for a few years" about problems at the plant, writing that "room to improve is a huge understatement." And, in advance of a visit to the plant by FDA officials in September 2020 in which the agency noted deficiencies, a senior quality director warned executives that it would be critical to convince the agency that rapid improvements were underway. "We are not in full compliance yet- BUT- we are making batches NOW," the director wrote.
In late March 2021, Emergent notified the Department of Health and Human Services about the contaminated doses. That culminated with the Biden administration terminating Emergent's vaccine production contract in November 2021.
If you own EBS shares and wish to discuss this investigation, please visit our website at https://www.weisslaw.co/news-and-cases/ebs or contact Josh Rubin at stocks@weisslaw.co or (212) 682-3025. There is no cost or obligation to you.
Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients. For more information about the firm, please go to: http://www.weisslaw.co
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SOURCE Weiss Law | https://www.whsv.com/prnewswire/2022/05/10/shareholder-alert-weiss-law-investigates-emergent-biosolutions-inc/ | 2022-05-11T02:37:58Z |
NEW YORK, May 10, 2022 /PRNewswire/ --
If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Renewable Energy Group, Inc. (NASDAQ: REGI)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Renewable Energy Group, Inc. (NASDAQ: REGI), in connection with the proposed acquisition of REGI by Chevron Corporation. Under the terms of the merger agreement, REGI shareholders will receive $61.50 in cash for each share of REGI common stock owned. If you own REGI shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/regi
IntriCon Corporation (NASDAQ: IIN)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of IntriCon Corporation NASDAQ: IIN), in connection with the proposed acquisition of IIN by an affiliate of Altaris Capital Partners, LLC. Under the terms of the merger agreement, IIN shareholders will receive $24.25 in cash for each share of IIN common stock owned. If you own IIN shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/iin
Blueknight Energy Partners, L.P. (NASDAQ: BKEP)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Blueknight Energy Partners, L.P. (NASDAQ: BKEP), in connection with the proposed plan of merger pursuant to which an affiliate of Ergon, Inc. ("Ergon") would acquire all of the outstanding common and preferred units of BKEP not already owned by Ergon and its affiliates (the "Common Units" and "Preferred Units"). Under the terms of the merger agreement, each holder of the Common Units will receive $4.65 in cash per Common Unit, and each holder of the Preferred Units will receive $8.75 in cash per Preferred Unit. If you own BKEP units and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/bkep
PS Business Parks, Inc. (NYSE: PSB)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PS Business Parks, Inc. (NYSE: PSB), in connection with the proposed acquisition of PSB by Blackstone Real Estate. Under the terms of the merger agreement, PSB shareholders will receive $187.50 in cash for each share of PSB common stock owned. If you own PSB shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/psb
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SOURCE Weiss Law | https://www.whsv.com/prnewswire/2022/05/10/shareholder-alert-weiss-law-reminds-regi-iin-bkep-psb-shareholders-about-its-ongoing-investigations/ | 2022-05-11T02:38:05Z |
StyleSeat Continues to Champion Small Businesses by Recognizing Beauty and Wellness Pros on its Platform
SAN FRANCISCO, May 10, 2022 /PRNewswire/ -- This week, StyleSeat, the leading destination for booking beauty, grooming, and wellness services, announced the winners of its Inaugural Awards, titled The Stylies.
Created to recognize, honor, and, celebrate the beauty and wellness professionals that help make StyleSeat customers look and feel their best, The Stylies are yet another way that StyleSeat is supporting and providing necessary resources for small businesses.
"From the beginning, our goal has always been to grow small businesses," said StyleSeat founder and CEO Melody McCloskey. "Whether that's by filling last-minute cancellations or helping our Pros to get paid what they're worth so they can earn more, StyleSeat has helped to generate over $10.6 billion in revenue for small businesses. The Stylies is one of many next steps in helping our deserving Pros continue to grow!"
The Stylies are split into two categories: data-driven and community-driven. The data-driven category, based on data insights from 2021, features the Booked & Busy Award, the Client Choice Award, the Best In Award, and the Brand Ambassador Award. The community-driven category, which is based on word-of-mouth, features the Trendsetter Award and the Wisdom Award.
To be considered, eligible StyleSeat professionals submitted an application through StyleSeat. Nearly 900 submissions were received by the end of the nomination period.
For the Booked & Busy Award, the winners are Vincent Fillah (Olney, MD) and Darylmond Humphrey (Fort Worth, TX).
For the Client Choice Award, the winners are Lacora Lewis (Augusta, GA) and Alberto Delgado (Lubbock, TX).
For the Brand Ambassador Award, the winner is Kimberly Taylor-Green (Fort Wayne, IN).
For the Trendsetter Award, the winners are Gregory Tahir Woods (Atlanta, GA) and Emerald Owens-Taylor (Riverside, CA).
For the Wisdom Award, the winners are Bree'Ana Melick (Columbus, OH) and Thomas D. Slonaker (Phoenix, AZ).
For the Best In Award, the winners are as follows:
- Braids: Diena Diallo (McKinney, TX), Nyisher Head (Chicago, IL), and Natasha Tuitt (Atlanta, GA)
- Natural Hair: Alex Nicole (Alpharetta, GA), Shauntele Harvey (Dallas, TX), and U'Lisa Towner (Chicago, IL)
- Hair Color: Ellie Ariapour (Roswell, GA), Jenn Fairchild (Southlake, TX), and Geneva Rygel (Bloomingdale, IL)
- Hair Treatments: Ashley Frencher (Orland Park, IL), Sharita Mullen (Dallas, TX), and Erica Crane (Bowdon, GA)
- Women's Haircuts: Yava Briscoe (Arlington, TX), Rasheed K. Ali (Marietta, GA), and Megumi Nakama (Chicago, IL)
- Kids: Robert Clark (Snellville, GA), Drew Gibson (Frisco, TX), and Richie Hype (Chicago, IL)
- Eyelashes: Chelcy Trejo (Rockwall, TX), Ashley Golden (Chicago, IL), and Sonya Currie (Lithonia, GA)
- Makeup: Bri Echols (Athens, GA), Ryan Sims (Dallas, TX), and Imari Allyce (Chicago, IL)
- Men's Haircuts: Alfonzo Vizueth (Hillsboro, TX), Devon McGee (Chicago, IL), and Phillip Dorsey (Douglasville, GA)
- Esthetician: LaTaria Truitt (LaGrange, GA), Erika Hollomon (Dallas, TX), and Vlada Kutseyko (Chicago, IL)
- Eyebrows: Preet Kaur (Plano, TX), Gheri Mattison (Chicago, IL), and Heidi Kasiske (Roswell, GA)
To learn more about StyleSeat, please visit www.styleseat.com.
About StyleSeat:
StyleSeat is the leading destination for booking beauty, barber and wellness services. Melody McCloskey co-founded StyleSeat in 2011 to simplify the appointment booking process. Since its inception, StyleSeat has powered over 155 million appointments in cities across the United States. With StyleSeat, industry experts gain a place to showcase their work, connect with clients, and build their business, while clients can discover new services and stylists and book appointments on the go. For more information, please visit www.styleseat.com.
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SOURCE StyleSeat | https://www.whsv.com/prnewswire/2022/05/10/styleseat-announces-inaugural-awards-stylies/ | 2022-05-11T02:38:14Z |
Open-source database company to focus on Enterprise expansion and continue improving database development experience.
PLEASANTON, Calif., May 10, 2022 /PRNewswire/ -- Supabase (the "Company"), the open-source Database-as-a-Service (DBaaS) company, today announced that it has raised $80 million in Series B funding led by Felicis, with participation from existing investors Coatue and Lightspeed. This latest round follows Supabase's $30 million Series A round announced in September 2021, and brings the Company's total capital raised to $116 million.
Supabase's platform enables developers to rapidly develop products without worrying about scaling limitations, with an open source approach to remove vendor lock-in. In recent months the Supabase community surpassed 80,000 developers, with many signups from cloud-native, enterprise and Fortune 500 companies. Hosted databases have grown 1900% in 12 months, with over 100,000 databases created. This organic growth has been driven by focused feature releases during Supabase Launch Weeks, Hackathons, and improving the developer database experience.
With this Series B round, Supabase plans to continue its relentless focus on innovation to support more enterprises. The Company also plans to double the size of its team – 20% of which is currently comprised of former founders – over the next year, with a focus on senior leaders that can help further scale a fully-remote culture driven by engineering, creativity, and autonomy.
"Supabase believes that the database market is completely underserved. As a critical component of every successful application, database development should be as easy as application development at every stage of a business lifecycle," said Paul Copplestone, CEO and co-founder of Supabase. "This latest round allows us to grow our enterprise support for PostgreSQL hosting, while continuing to support our open source community."
"As we started hitting scale, Supabase has been crucial to supporting our drops. When Snoop Dogg debuted on Sound, Supabase helped us to provision our data store to handle the load," Vignesh Hirudayakanth, CTO of sound.xyz, said. "Supabase takes out the mental effort from our back-end infrastructure so we can focus on our customers' needs."
"We are super excited to be investing in Supabase and partner with the team on their next phase of growth," said Aydin Senkut, Founder and Managing Partner of Felicis. "Supabase's team is made up of 20% former founders and therefore deeply understands the need and pain points for developers to rapidly develop products. Supabase truly enables developers to build their applications without repeating the same tedious tasks and manage their application's database, authentication, storage, and edge functions. "
"Ever since we first met Supabase we had high conviction in the vision and the platform," said Caryn Marooney," Supabase Board Director and Coatue General Partner. "It's been incredible to see the team's relentless execution over the last two years. Seeing the team's strong organic traction, we are excited to triple down with Supabase once again. The vision continues to expand as Supabase takes on the biggest and most entrenched databases while heeding its North Star - the developer community."
Supabase is the standout company from YC's Summer 2020 class, one of the fastest growing open-source projects on GitHub with over 30,000 stars and one of fewer than 350 projects to reach this milestone.
About Supabase
Supabase is building an open-source Database-as-a-Service platform to help developers build their applications without repeating the same tedious tasks. Developers use Supabase to manage their application's database, authentication, storage, and edge functions. Supabase's growth is completely organic, driven by their commitment to developing new features to upgrade the database development experience.
Paul Copplestone and Ant Wilson founded Supabase, and they work with a globally remote team to deliver a secure, stable, and scalable system. Both are 3-time founders.
About Felicis
Founded in 2006, Felicis is a venture capital firm investing in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early stage investments and currently manages over $2.1B in capital across 8 funds. The firm is an early backer of more than 41 companies valued at $1B+. More than 91 of its portfolio companies have been acquired or gone public, including Adyen (IPO), Credit Karma (acq by Intuit), Cruise (acq by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq by Cisco), Ring (acq by Amazon), and Shopify (IPO). The firm is based in Menlo Park, CA. Learn more at www.felicis.com.
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SOURCE Supabase | https://www.whsv.com/prnewswire/2022/05/10/supabase-announces-80-million-series-b-led-by-felicis/ | 2022-05-11T02:38:23Z |
Author Brian Lebeau explores ethics, psychology and social justice in haunting new novel
BOSTON, May 10, 2022 /PRNewswire/ -- Described by Kirkus as a "gripping crime drama" wherein the "tension is immense," Brian Lebeau's "A Disturbing Nature" (May 10, 2022, Books Fluent) follows a prolific killer and investigator in post-Vietnam War-era New England.
When FBI Chief Investigator Francis Palmer and Maurice Lumen's paths collide, a dozen young women are already dead—bodies strewn in the woods across southern New England. Crippled by the loss of their families and haunted by mistakes, they wrestle with skeletons and ghosts neither understands. Who is destined to pay for the sins of their fathers, and who will pay for their own?
Under a celebrity veneer, the Beast in Palmer simmers. Called back from an investigation that's gone dry in Seattle to his field office in Boston, he's assigned to a case closer to home. Without closure and carrying the scars of every predator he's hunted down, Palmer's thrust into a new killer's destructive path and forced to confront his own demons.
On the surface, Mo Lumen seems an unlikely suspect. Abandoned by the Great Society and sheltered from the countercultural revolution, he's forced to leave Virginia under the shadow of secrets and accusations. Emerging in Rhode Island, burdened with childlike innocence, reminders of the past threaten to resurrect old carcasses.
A psychological thriller set in the summer of 1975, from an author born in the hometown of the infamous Lizzie Borden, "A Disturbing Nature" blurs the line between man and monster. Lebeau draws inspiration from the motivations and mayhem of history's most notorious serial killers, and a lifelong obsession with the Red Sox.
About the author: After being awarded an "A" in high school English once and denied a career in music for "lack of talent" repeatedly, Brian Lebeau taught economics at several colleges and universities in Massachusetts and Rhode Island before moving to Fauquier County, Virginia, to work as a defense contractor for two decades. "A Disturbing Nature" is his debut novel.
Contact: Angelle Barbazon
angelle@booksforward.com
(615) 576-0497
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SOURCE Books Forward | https://www.whsv.com/prnewswire/2022/05/10/suspenseful-psych-thriller-disturbing-nature-inspired-by-historys-infamous-crimes/ | 2022-05-11T02:38:31Z |
Those Working for Lawmakers Must Have an Opportunity to Join a Union, O'Brien Says
WASHINGTON, May 10, 2022 /PRNewswire/ -- The Teamsters strongly endorse a House resolution set for a vote today that would recognize congressional workers' right to organize, finishing a process the chamber began more than a quarter-century ago when lawmakers passed the Congressional Accountability Act in 1995.
The measure offered by Rep. Andy Levin (D-Mich.) gives some 9,100 staffers the same rights as other workers to join together and collectively bargain for better pay, benefits and working conditions. It comes at a time when frustration has been brewing over wage disparities and long work hours on Capitol Hill.
"People who work for politicians deserve the same rights as those who work for big business," said Sean M. O'Brien, Teamsters General President. "These workers are fighting to join a union and House lawmakers must do the right thing and protect their right to organize. It's time these elected officials set an example for corporate America."
House Speaker Nancy Pelosi (D-Calif.) has endorsed the resolution, but its future in the Senate is more uncertain. Regardless of what happens in the Senate, House staffers would be allowed to organize even if only the House passes the measure.
Founded in 1903, the International Brotherhood of Teamsters represents 1.2 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at www.facebook.com/teamsters.
Contact:
Ash Latimer, (202) 624-6822
alatimer@teamster.org
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SOURCE International Brotherhood of Teamsters | https://www.whsv.com/prnewswire/2022/05/10/teamsters-laud-house-measure-protecting-congressional-staffs-right-organize/ | 2022-05-11T02:38:37Z |
Note: For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the restatement will be applied to the annual financial statements, for intermediate and special periods ended as of March 31, 2018 inclusive. Accordingly, the reported figures corresponding to 1Q22 include the effects of the adoption of inflationary accounting in accordance with IAS 29. Finally, comments related to variations of results of 1Q22 and vs. 1Q21 mentioned in this press release correspond to "figures restated by inflation" or "constant".
- The results included for comparative purposes (March 2021) contain the effect of the year over year inflation as of March 2022, which was 55.1%.
- Consolidated Revenues amounted to P$117,372 million in 1Q22 (-8.3% in constant currency vs. 1Q21), in a context of high inflation. Service Revenues totaled P$109,378 million (-8.6% in constant currency vs. 1Q21).
- We have increased the number of clients versus 1Q21 in our 3 main segments. Mobile clients in Argentina reached 20.2 million in 1Q22 (+1.4 million vs. 1Q21), cable TV subscribers totaled approximately 3.5 million (+11 thousand vs. 1Q21), while broadband accesses amounted to almost 4.2 million (+66 thousand vs. 1Q21).
- Operating Income before Depreciation and Amortization amounted to P$40,691 million in 1Q22 (-12.7% vs. 1Q21), while our Operating margin before D&A was 34.7%.
- The Company's Net Income amounted to P$23,745 million in 1Q22 (+69.9% vs. $13,978 million in 1Q21). Our Net financial results were positive and totaled P$22,340 million, while income tax charge was positive in $28 million.
- Investments (including rights of use assets) reached P$18,783 million in 1Q22, equivalent to 16.0% of our Consolidated Revenues.
- Net Financial Debt amounted to P$251,888 million in 1Q22 (-12.4% in constant currency vs. 1Q21).
*Market Cap as of May 9th, 2022
**Unaudited non financial data
BUENOS AIRES, Argentina, May 10, 2022 /PRNewswire/ -- Telecom Argentina S.A. ('Telecom Argentina') - (NYSE: TEO; BYMA: TECO2), announced today a net income of P$23,745 million for the period ended March 31, 2022 (+69.9% vs. 1Q21). The net income attributable to the controlling company was P$23,526 million (+73.5% vs. 1Q21).
Comparative figures for the previous fiscal year have been restated so that the resulting information is presented in the current measurement unit as of March 31, 2022.
The following table shows the evolution of the consumer price index (National CPI - according to INDEC's official statistics) as of March 31, 2022 and as of December 31, 2021 and 2020, which were used to restate the figures in constant currency:
During the 1Q22, Consolidated Revenues amounted to P$117,372 million, from which Service Revenues totaled P$109,378 million.
As of March 31, 2022, total mobile clients in Argentina and Paraguay amounted to 22.4 million. In 1Q22, total mobile services revenues represented P$45,377 million (-P$1,935 million vs. 1Q21).
As of March 31, 2022, total mobile subscribers amounted to more than 20.2 million (+1.4 million vs. 1Q21). Postpaid clients represented 41% of our subscriber base.
In 1Q22, mobile service revenues in Argentina amounted to P$41,529 million (-1.4% vs 1Q21). Mobile internet revenues were 86% of mobile service revenues. The average monthly revenue per user ('ARPU' – restated in constant currency as of March 31, 2022) amounted to P$682.5 during 1Q22 (-9.4% vs. 1Q21). The effect generated by the inflation adjustment as of March 31, 2022 (included in the ARPU) amounted to P$37.7 and P$287.4, for 1Q22 and 1Q21, respectively. Mobile churn was 2.3% (vs. 1.4% in 1Q21).
Personal Pay continued improving its value proposition and adding new features. Currently, our digital wallet allows customers to pay, save and transfer money, efficiently and safely. Users can add money to their account through transfers in cash from authorized recharge centers, recharge their mobile phones, and pay their bills in the case of postpaid clients.
As of March 31, 2022, Núcleo's subscriber base reached 2.2 million clients. Prepaid and postpaid customers represented 81% and 19%, respectively.
Núcleo´s mobile service revenues during 1Q22, amounted to P$3,848 million (-25.8% vs. 1Q21), mainly due to decrease in the ARPU measured in constant pesos, which was partially offset by the appreciation of the Guaraní against the Argentine peso.
Cable TV service revenues were P$21,784 million in 1Q22 (-P$4,162 million vs. 1Q21). Cable TV subscribers totaled 3.5 million (+11 thousand vs. 1Q21). The monthly Cable TV ARPU (restated in constant currency as of March 31, 2022) reached P$1,990.2 during 1Q22 (vs P$2,389.6 in 1Q21). The effect generated by the restatement in terms of the measuring unit as of March 31, 2022 included in the ARPU amounts to P$116 and P$919, for the 1Q22 and 1Q21, respectively. The average monthly churn during was 1.3% and 1.2% as of March 31, 2022 and 2021, respectively.
Flow continued to strengthen its offering by incorporating new products in music, national and international films, and gaming.
During March 2022, Flow broadcasted the Lollapalooza Argentina international festival through live streaming. More than one million people enjoyed the event through four exclusive channels.
Revenues generated by fixed telephony and data reached P$14,821 million in 1Q22 (-P$3,533 million vs. 1Q21).
The monthly fixed voice ARPU (restated in constant currency as of March 31, 2022) reached P$970.9 (vs. P$914.4 in 1Q21). The effect generated by the restatement in terms of the measuring unit as of March 31, 2022, included in the ARPU amounted to P$134.4 and P$350.1 for the 1Q22 and 1Q21, respectively.
During the first quarter of the year, the following initiatives were developed in the corporate segment:
- Presented a new tool called "Fortalecimiento de usuarios" which helps to reduce the risk of cyberattacks on companies.
- A technological alliance with Frávega was announced, for the contracting of the Amazon Web Services' (AWS) cloud solutions.
- The Company participated in Expo Agro 2022, presenting our agribusiness IoT solutions portfolio and offering our connectivity during the exhibition.
- We were the official sponsor and technological partner of the Argentina Open tennis tournament, installing 4G technology to enhance mobile coverage.
Internet services revenues totaled P$26,439 million during 1Q22 (-P$643 million vs. 1Q21). As of March 31, 2022, total broadband accesses reached approximately 4.2 million (+66 thousand vs. 1Q21).
Additionally, broadband ARPU (restated in constant currency as of March 31, 2022) amounted to P$2,000.5 per month in 1Q22 (vs. P$2,107 in 1Q21). The effect generated by the restatement in terms of the measuring unit as of March 31, 2022, included in the ARPU amounted to approximately P$114.9 and P$810.9, for the 1Q22 and 1Q21, respectively.
The average monthly churn rate for the 1Q22 was 1.5% (vs. 1.3% in 1Q21). As of 1Q22, 74% of our total customer base had a broadband service of 50Mb or higher (this percentage was 61% as of 1Q21).
Equipment revenues amounted to P$7,994 million (-P$430 million vs. 1Q21). Said decrease was mainly due to a drop of 7% in the volume of handsets sold, which have increased their average price due to the devaluation of the Argentine peso.
Consolidated Operating Costs (including D&A and impairment of fixed assets) totaled P$116,115 million in 1Q22 (-P$3,565 million or -3.0% vs. 1Q21). Excluding D&A and impairment of fixed assets, operating costs experienced a reduction of 5.8%.
Our costs breakdown was as follows:
- Employees benefits and severance payments: P$24,218 million (+1.8% vs. 1Q21). Total employees amounted to 22,444 as of 1Q22.
- Interconnection and transmission costs (including roaming, international settlement charges and lease of circuits) were P$3,587 million (-27.6% vs. 1Q21). This saving was mainly due to a new business dynamic that optimizes our links and sites which has offset higher technology prices due to the devaluation of the Argentine peso.
- Fees for services, maintenance, materials and supplies: P$12,352 million (-13.3% vs. 1Q21). Fees for services and maintenance and material costs decreased by P$607 million and P$1.309 million vs. 1Q21, respectively.
- Taxes and fees paid to regulatory authorities: P$8,975 million (-9.9% vs. 1Q21). This decrease was mainly due to lower sales during 1Q22 vs 1Q21. These costs represent 7.6% and 7.8% of total revenues as of 1Q22 and 1Q21, respectively.
- Commissions and advertising (commissions paid to agents, collection fees and other commissions): P$6,425 million (-5.5% vs. 1Q21). Said decrease was mainly explained by a reduction in advertising costs.
- Cost of handsets sold: P$6,011 million (-0.9% vs. 1Q21). P$5,689 million were related to the cost of sales of devices in Argentina, which decreased vs. 1Q21 mainly due to lower volume of handsets sold. Their purchase prices were also affected by the devaluation of the Argentine peso.
- Programming and content costs: P$7,497 million (-20.5% vs. 1Q21). Said reduction was mainly generated by commercial efficiencies, which were partially offset by price increases in almost all of our broadcasting signals.
- Other Costs totaled P$7,436 million (-24.0% vs. 1Q21). Bad debt expenses reached P$3,199 million (+98.9% vs. 1Q21).
Our bad debt ratio was 2.7% as of March 31, 2022 (vs. 1.3% in 1Q21). The increase was mainly explained by the harder economic situation in Argentina, which has a direct impact on our clients´ incomes.
Other operating costs (including charges for lawsuits and other contingencies, energy and other public services, insurance, rents and internet capacity) totaled P$4,237 million (-3.4% vs. 1Q21). This decrease was mainly related to lower energy costs, rental charges, and internet capacity, which were partially offset by higher lawsuits and other contingency charges.
- Depreciation, amortization and impairment of fixed assets amounted to P$39,434 million (+3.1% vs. 1Q21). This increase was due to the impact of the amortization of assets incorporated after March 31, 2021, partially offset by the effect of the assets that were completely amortized after such date.
Net Financial Results (including Financial Expenses on Debt and Other Financial Results) were P$22,340 million in 1Q22 (vs. P$10,502 million in 1Q21), mainly due to:
Our income tax includes the following effects:
(i) the tax to be paid according to local tax legislation, and
(ii) the effect of applying the deferred tax method on temporary differences generated when comparing our asset and liability valuation according to tax and financial accounting criteria which includes the effect of the income tax inflation adjustment.
Our income tax amounted to a positive amount of P$28 million in 1Q22 (vs. a loss of P$5,007 million in 1Q21). The tax paid according to item (i) above amounted to P$10,967 million in 1Q22 (vs. $161 million in 1Q21) and the income tax effect related to the application of the deferred tax method described in item (ii) above amounted to a gain of P$10,995 million in 1Q22 (vs. a loss of P$4,846 million in 1Q21).
On May 6, 2022, the Company filed the Income Tax affidavit corresponding to fiscal year 2021, including:
(i) a restatement of the tax amortizations of all its fixed assets and intangible assets pursuant to the requirements of sections 87 and 88 of the Income Tax Law;
(ii) the allocation of the computable tax losses carry forward from previous years in accordance with the procedure provided for in section 25 of said Law.
For further details on the abovementioned, refer to Note 13 to the Financial Statements as of March 31, 2022.
As of March 31, 2022, our net financial debt (cash, cash equivalents plus financial investments and financial NDF & interest rate swaps minus loans) amounted to P$251,888 million, decreasing P$35,718 million (-12.4%) when compared to the consolidated net financial debt as of March 31, 2021 adjusted by inflation.
During the 1Q22, the Company invested (including rights of use assets) P$18,783 million (-38.0% vs. 1Q21). Said investments represented 16.0% of consolidated revenues in 1Q22, and were focused on:
- Projects related to the expansion of TV and internet services to improve our transmission and access speed.
- Deployment and modernization of our 4G mobile access sites, supporting the growth in the coverage of our mobile network.
- Extension of our transmission and transport networks in order to unify the different access technologies and to consolidate the deployment of last-mile networks with FTTH (Fiber to the home) architecture.
- New customer contact systems.
Issuance of Class 12 and 13 Local Notes
Class 12
Issuance Date: March 9, 2022.
Amount Issued: US$22.7 million to be paid in Argentine pesos at the applicable exchange rate (equivalent to P$2.458 million at the Issuance Date)
Maturity Date: March 9, 2027.
Amortization: Bullet.
Interest Rate and payments: 1.00% p.a, quarterly interest payments.
Class 13
Issuance Date: March 9, 2022.
Amount Issued: P$2.347 million
Maturity Date: September 9, 2023.
Amortization: Bullet.
Interest Rate and payments: BADLAR + 1.50% p.a, quarterly interest payments.
Loan with China Development Bank Shenzhen Branch (CDB):
During the first quarter of 2022, the Company received new disbursements under this credit facility for a total of RMB 120.4 million, equivalent to P$2,062 million.
Finnvera
On March 31, 2022, the Company received a disbursement of US$11.4 million, drawing the total amount under this credit facility.
Preliminary injunction
On April 22, 2022, we informed of the decision rendered by the Federal Administrative Litigation Matters Court No. 8 in the proceedings "Telecom Argentina S.A. a/EN-Enacom and other re. preliminary injunction (Autonomous)" (Docket No. 12,881/2020) whereby the Court decided to further extend for a period of 6 (six) months the preliminary injunction previously granted to us according to section 5 of Law N° 26,854.
Ordinary and Extraordinary General Shareholders' Meeting held on April 27, 2022
The Ordinary and Extraordinary General Shareholders' Meeting held on April 27, 2022 approved, among other matters, the following:
The Board's proposal, adjusted as of March 31, 2022 using the National Consumer Price Index (National CPI) published on April 13, 2022 in accordance with the provisions of CNV Resolution No. 777/2018, with respect to Retained Earnings as of December 31, 2021 which reported a positive balance of P$ 10,056,956,479, which proposal consisted of the following:
i) allocating P$ 502,847,824 to establish the Legal Reserve;
ii) allocating P$ 9,554,108,655 to the "Facultative Reserve to maintain the level of capital investments and the current level of solvency of the Company"; and
iii) Reclassify the amount of P$ 18,817,248,927, from the "Facultative Reserve to maintain the capital investments level and the current level of solvency of the Company" account (which consequently will amount to P$ 63,181,266,161) by charging that amount to the "Share Premium" account.
- Granting the Board of Directors the authority to withdraw, before June 30, 2022, the "Facultative Reserve to maintain the capital investments level and the current level of solvency of the Company" in an amount which allows to distribute a combination of 2030 Global Bonds and 2035 Global Bonds as dividends in kind with a market value as of its valuation date of up to P$ 41,000 million.
Núcleo S.A. – Dividend distribution
Nucleo's Ordinary Shareholders' Meeting held on April 21, 2022 decided to distribute dividends for a total of Guaraníes 150,000 million (equivalent to $2,473 million as of the date of the Shareholders' Meeting). Dividends will be payable in two installments (May and October 2022).
Telecom Argentina is a leading telecommunications company in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers mobile, broadband and satellite TV services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina.
As of March 31, 2022, Telecom Argentina had 2,153,688,011 shares issued and outstanding.
For more information, please contact Investor Relations:
For information about Telecom Argentina's services, visit:
www.telecom.com.ar
www.personal.com.ar
www.personal.com.py
This document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the Merger); (iii) the implementation of the Company's business strategy; (iv) the changing dynamics and growth in the telecommunications and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company's outlook for new and enhanced technologies; (vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain legal proceedings; and (ix) regulatory and legal developments. Forward-looking statements may be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "will," "may" and "should" or other similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. These factors include, among others: (i) the Company's ability to successfully implement our business strategy and to achieve synergies resulting from the Merger; (ii) the Company's ability to introduce new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina, Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation, the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad; (vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization, expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States) which impact on the Company's suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced by third parties; (xiv) increasing cost of the Company's supplies; (xv) inability to finance on reasonable terms capital expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments, in the demand for advertising; (xvii) the Company's ability to compete and develop our business in the future; (xviii) the impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond the control of the Company's management. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained in this document. These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. Readers are encouraged to consult the Company's Annual Report on Form 20-F and the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and uncertainties faced by the Company.
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SOURCE Telecom Argentina S.A. | https://www.whsv.com/prnewswire/2022/05/10/telecom-argentina-sa-announces-consolidated-results-first-quarter-fiscal-year-2022-1q22/ | 2022-05-11T02:38:44Z |
BEIJING, May 10, 2022 /PRNewswire/ -- Ucommune International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission (the "SEC") on May 10, 2022. The annual report on Form 20-F can be accessed on the SEC's website at http://www.sec.gov and on the Company's investor relations website at https://ir.ucommune.com/.
The Company will provide a copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to Investor Relations, Ucommune International Ltd., Floor 8, Tower D, No.2 Guang Hua Road, Chaoyang District, Beijing, People's Republic of China.
About Ucommune International Ltd.
Ucommune is China's leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune's various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China.
For investor and media inquiries, please contact:
Ucommune International Ltd.
ir@ucommune.com
ICR, LLC.
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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SOURCE Ucommune International Ltd. | https://www.whsv.com/prnewswire/2022/05/10/ucommune-international-ltd-files-2021-annual-report-form-20-f/ | 2022-05-11T02:38:50Z |
Survivors Will Share Experiences of Abuse & Neglect Taking Place In Congregate Care Facilities
LADERA RANCH, Calif., May 10, 2022 /PRNewswire/ -- Unsilenced, a national non-profit focused on fighting instritiuonal child abuse, will join Paris Hilton at a press conference on the National Mall in Washington, DC Wednesday to advocate for federal legislation to end institutional child abuse.
The Troubled Teen Industry is a network of mostly unregulated abusive congregate care facilities for young people that use "tough love" and other non-evidence based therapeutic services, schooling, and shelter. Over 200 survivors and child welfare advocates will join Unsilenced and Paris Hilton in Washington DC to share their stories, educate lawmakers for broad, bipartisan support of the Stop Institutional Child Abuse Act (SICAA). Throughout the week, there are a variety of events and activities geared towards raising awareness about experiences in these facilities and the goals of SICAA.
"For decades, children in institutional settings have been denied basic human rights protections against widespread abuse, neglect, and preventable death," said Paris Hilton. "Survivors are ready to tell Congress that it's time for leadership, action, and it's time to FINALLY protect children placed in the Troubled Teen Industry."
Details for the Press Conference in Washington, DC on May 11, 2022
Unsilenced, Paris Hilton along with members of the U.S. House and Senate will come together to host a press conference about the impact of abusive congregate care facilities on the lives of survivors and their families. Attendees will hear from Paris, family members of youth who died at the hands of this industry, survivors, and state legislators. The group is also hosting a solitary confinement installation to provide the public with a visual representation of the conditions that kids are often subjected to in these facilities in order to raise awareness in an effort to lobby for legislators to help develop SICAA.
WHERE:
National Mall, Third Street, SW (Between Madison Drive and Jefferson Drive) Washington, DC
WHEN:
Wednesday, May 11, 2022 at 10:30 am ET
SPEAKERS:
- Paris Hilton, institutional abuse survivor
- Caroline Cole, institutional abuse survivor and Co-CEO, Unsilenced
- State Sen. Mike McKell (R-Spanish Fork), sponsor of industry reform bill passed in Utah
- State Sen. Sara Gelser (D-Corvallis), sponsor of industry reform bills passed in Oregon
- Jaide Horan, 18-year-old survivor of physical abuse at Provo Canyon School
- Renee Hanania, mother of Branden Petro (victim of medical neglect and abuse)
- Nehemiah Wood, brother of Naomi Wood (died due to medical neglect)
- Alain Datcher, former foster youth, survivor and Executive Director, LA County Youth Commission
- Julia Arroyo, former foster youth, incarcerated youth and current Managing Director of the Young Women's Freedom Center
"We have an opportunity to create change in an industry that has been riddled with abuse, disguised as treatment, for decades. It's time to raise the bar of expectations in regards to regulations and transparency in these facilities to ensure the physical and psychological safety of youth." said Meg Appelgate, Co-CEO, Unsilenced.
"Youth in our nation should never be faced with life-long trauma or death as a result of treatment. We must act now to put protections in place and prevent more young people from enduring life-changing trauma." said Caroline Cole, Co-CEO, Unsilenced.
For more information on Unsilenced, please visit the Unsilenced website (www.unsilenced.org) and find us on LinkedIn, Twitter (@weareunsilenced), and Instagram (@weareunsilenced)
Contact:
Jennifer Risi, The Sway Effect
Phone: 917-887-8865
Email: jennifer.risi@theswayeffect.com
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SOURCE Unsilenced | https://www.whsv.com/prnewswire/2022/05/10/unsilenced-joins-paris-hilton-capitol-hill-raise-awareness-about-institutional-child-abuse/ | 2022-05-11T02:38:57Z |
LAS VEGAS, May 10, 2022 /PRNewswire/ -- Switch, Inc. (NYSE: SWCH) today announced that it will conduct its first quarter 2022 earnings conference call and live webcast for analysts and investors at 8:30 a.m. Eastern Time on Wednesday May 11, 2022. The company is providing updated dial-in information below, which replaces the previous conference call information provided in Switch's first quarter 2022 earnings press release.
- Participant toll free dial-in: 888-660-6585
- Conference ID: 1555854
The webcast will be accessible on Switch's investor relations website at https://investors.switch.com/ for one year. A telephonic replay of the conference call will be available through Wednesday, May 18, 2022.
- Replay dial-in: 800-770-2030
- Replay access code: 1555854
ABOUT Switch
Switch (NYSE: SWCH), is the independent leader in exascale data center ecosystems, edge data center designs, industry-leading telecommunications solutions and next-generation technology innovation. Switch Founder and CEO Rob Roy has developed more than 700 issued and pending patent claims covering data center designs that have manifested into the company's world-renowned data centers and technology solutions.
We innovate to sustainably progress the digital foundation of the connected world with a focus on enterprise-class and emerging hybrid cloud solutions. The Switch PRIMES, located in Las Vegas and Tahoe Reno, Nevada; Grand Rapids, Michigan; Atlanta, Georgia; and Austin, Texas are the world's most powerful exascale data center campus ecosystems with low latency to major U.S. markets. Visit switch.com for more information or follow us on LinkedIn and Twitter.
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SOURCE Switch, Inc. | https://www.whsv.com/prnewswire/2022/05/10/update-switch-first-quarter-2022-earnings-call-information/ | 2022-05-11T02:39:04Z |
IRVING, Texas, May 10, 2022 /PRNewswire/ -- Vistra Corp. (NYSE: VST) (the "Company" or "Vistra") announced today the pricing of a private offering (the "Offering") of $1.5 billion aggregate principal amount of senior secured notes, consisting of $400 million aggregate principal amount of senior secured notes due 2024 at a price to the public of 100% of their face value (the "2024 Notes") and $1.1 billion aggregate principal amount of senior secured notes due 2025 at a price to the public of 99.808% of their face value (the "2025 Notes and together with the 2024 Notes, the "Secured Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Secured Notes will be senior, secured obligations of Vistra Operations Company LLC, a Delaware limited liability company and an indirect, wholly owned subsidiary of the Company (the "Issuer"). The 2024 Notes will bear interest at the rate of 4.875% per annum, and the 2025 Notes will bear interest at the rate of 5.125% per annum. The Secured Notes will be fully and unconditionally guaranteed by certain of the Issuer's current and future subsidiaries that also guarantee the Issuer's credit agreement. The Secured Notes will be secured by a first-priority security interest in the same collateral that is pledged for the benefit of the lenders under the Issuer's credit agreement, which consists of a substantial portion of the property, assets and rights owned by the Issuer and the subsidiary guarantors as well as the stock of the Issuer. The collateral securing the Secured Notes will be released if the Issuer's senior, unsecured long-term debt securities obtain an investment grade rating from two out of the three rating agencies, subject to reversion if such rating agencies withdraw the investment grade rating of the Issuer's senior, unsecured long-term debt securities or downgrade such rating below investment grade.
The Offering is expected to close on May 13, 2022, subject to customary closing conditions.
The Company intends to use the proceeds from the Offering, together with cash on hand, (i) to post collateral as may be required in connection with the Company's comprehensive hedging strategy, (ii) for general corporate purposes, and (iii) to pay fees and expenses related to the Offering. The Secured Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 275 integrated retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive wholesale markets in the U.S. and markets in Canada, as well. Serving nearly 4.3 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is one of the largest competitive electricity providers in the country and offers over 50 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, Vistra is a large purchaser of wind power. The company owns and operates the 400-MW/1,600-MWh battery energy storage system in Moss Landing, California, the largest of its kind in the world. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors. Learn more about our environmental, social, and governance efforts and read the company's sustainability report at https://www.vistracorp.com/sustainability/.
Cautionary Note Regarding Forward-Looking Statements
The information presented herein includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Vistra Corp. ("Vistra") operates and beliefs of and assumptions made by Vistra's management, involve risks and uncertainties, which are difficult to predict and are not guarantees of future performance, that could significantly affect the financial results of Vistra. All statements, other than statements of historical facts, that are presented herein, or in response to questions or otherwise, that address activities, events or developments that may occur in the future, including such matters as activities related to our financial or operational projections, the potential impacts of the COVID-19 pandemic on our results of operations, financial condition and cash flows, projected synergy, value lever and net debt targets, capital allocation, capital expenditures, liquidity, projected Adjusted EBITDA to free cash flow conversion rate, dividend policy, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of power generation assets, market and industry developments and the growth of our businesses and operations (often, but not always, through the use of words or phrases, or the negative variations of those words or other comparable words of a future or forward-looking nature, including, but not limited to: "intends," "plans," "will likely," "unlikely," "believe," "confident", "expect," "seek," "anticipate," "estimate," "continue," "will," "shall," "should," "could," "may," "might," "predict," "project," "forecast," "target," "potential," "goal," "objective," "guidance" and "outlook"), are forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Although Vistra believes that in making any such forward-looking statement, Vistra's expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and risks that could cause results to differ materially from those projected in or implied by any such forward-looking statement, including, but not limited to: (i) adverse changes in general economic or market conditions (including changes in interest rates) or changes in political conditions or federal or state laws and regulations; (ii) the ability of Vistra to execute upon its contemplated strategic, capital allocation, performance, and cost-saving initiatives and to successfully integrate acquired businesses; (iii) actions by credit ratings agencies; (iv) the severity, magnitude and duration of pandemics, including the COVID-19 pandemic, and the resulting effects on our results of operations, financial condition and cash flows; (v) the severity, magnitude and duration of extreme weather events (including Winter Storm Uri), contingencies and uncertainties relating thereto, most of which are difficult to predict and many of which are beyond our control, and the resulting effects on our results of operations, financial condition and cash flows; and (vi) those additional risks and factors discussed in reports filed with the Securities and Exchange Commission by Vistra from time to time, including the uncertainties and risks discussed in the sections entitled "Risk Factors" and "Forward-Looking Statements" in Vistra's annual report on Form 10-K for the year ended December 31, 2021 and any subsequently filed quarterly reports on Form 10-Q.
Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, Vistra will not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all of them; nor can Vistra assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
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SOURCE Vistra Corp. | https://www.whsv.com/prnewswire/2022/05/10/vistra-prices-private-offering-15-billion-senior-secured-notes/ | 2022-05-11T02:39:12Z |
Increased availability of Wasabi hot cloud storage delivers high-performing, cost-effective support for Australia's growing digital-first industries
BOSTON and SYDNEY, May 10, 2022 /PRNewswire/ -- Wasabi Technologies, the hot cloud storage company, has opened its 12th global storage region, located in Sydney, Australia, to help organizations in the Asia Pacific region capitalize on the growing adoption of hybrid cloud and digital-first infrastructure, while also addressing data sovereignty. Sydney is the latest in Wasabi's expansive international rollout. In 2021, the company opened APAC headquarters in Tokyo and a short time later launched a storage region in Osaka. This year, Wasabi began service in Toronto, Frankfurt, Paris, and London to meet the demand for affordable and high-performing cloud storage, as well as to accommodate its exponentially growing Partner Network worldwide.
With game-changing technological advancements across many industries, including healthcare, education, energy, video surveillance, and media and entertainment, Australians are embracing cloud technologies to modernize their infrastructure and efficiently handle the unprecedented scope of data now being generated. GlobalData projects the Australian cloud market to top $14B by 2025. To support this growing market, Wasabi's new location in Sydney provides closer proximity to customers and partners, including Veeam®, to reduce latency and keep costs affordable and predictable.
"As the leader in backup, recovery and data management solutions that deliver Modern Data Protection, Veeam has a valuable technology alliance partnership with Wasabi," said Andreas Neufert, vice president of product management at Veeam. "Now with expanded service in APAC, our joint customers will benefit from higher performance as a result of reduced latency. Wasabi's product knowledge and expertise will help customers to reduce the management overhead for offsite storage."
Wasabi hot cloud storage has transformed the industry with a simple solution that is 1/5th the cost of hyperscalers, with no fees for egress or API requests and no vendor lock-in. Businesses are able to securely and affordably store all of their data and access it the moment they need it without complex pricing tiers. Housed in the Equinix Sydney location and leveraging Equinix Metal™ and Equinix Fabric™, Wasabi's latest region is fully scalable and benefits from best-in-class speed and access, industry-leading environmental and energy efficiency standards, and the ability to address data sovereignty needs as Wasabi's reach continues to expand globally. Wasabi now serves customers in over 100 countries, storing data ranging from backups, disaster and ransomware recovery, archiving, and more.
"We are proud to once again work with Wasabi as they expand their presence even deeper into Asia Pacific with this new storage region in Australia," said Roddie Samuel, senior director of sales, Equinix Australia. "Wasabi's innovative low-cost object storage in combination with our digital services greatly benefits organizations around the world by reducing costs and delivering a simpler experience with higher performance."
"With Asia Pacific at the forefront of digital-first business strategy and tremendously growing hybrid cloud adoption, Sydney was the obvious choice for Wasabi's newest storage region, following our additions of Tokyo and Osaka last year," said David Friend, co-founder and CEO, Wasabi Technologies. "By bringing Wasabi's high-performing and cost-effective cloud storage to Australia, we're empowering even more organizations across APAC to extract the true value of their data, maximize the benefits of their digital infrastructure priorities, and achieve tangible business results without the complexity that comes with the hyperscalers."
For more information about Wasabi and its storage regions, please visit wasabi.com/locations/.
About Wasabi Technologies
Wasabi provides simple, predictable and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an unlimited amount of data at 1/5th the price of the competition with no complex tiers or unpredictable egress fees. Trusted by tens of thousands of customers worldwide, Wasabi has been recognized as one of technology's fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured nearly $275 million in funding to date and is a privately held company based in Boston. Wasabi is a Proud Partner of the Boston Red Sox, and the Official Cloud Storage Partner of Liverpool Football Club and the Boston Bruins.
Follow and connect with Wasabi on Twitter, Facebook, Instagram, and our blog.
Wasabi Technologies PR contact:
Kaley Carpenter
Inkhouse for Wasabi
wasabi@inkhouse.com
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SOURCE Wasabi Technologies | https://www.whsv.com/prnewswire/2022/05/10/wasabi-technologies-opens-storage-region-sydney/ | 2022-05-11T02:39:20Z |
TOLEDO, Ohio, May 10, 2022 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) has issued the following business update which can be found at:
About Welltower
Welltower® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers, and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada, and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available at www.welltower.com.
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SOURCE Welltower Inc. | https://www.whsv.com/prnewswire/2022/05/10/welltower-issues-business-update/ | 2022-05-11T02:39:27Z |
MINNEAPOLIS, May 10, 2022 /PRNewswire/ -- World Poker Store Inc. (OTC: WPKS) on May 9th 2022, signed a letter of intent to negotiate a definitive agreement for a merger with Genuine Marketing Group Inc.
Genuine Marketing Group Inc. or GMG is a retail and consumer focused marketing company that creates brand affinity and builds consumer confidence through its proprietary authentication system, ZPtag. Combining the user-friendly engagement of a smartphone app with the smart contracts of the IBM blockchain, GMG seamlessly integrates brand marketing and measuring consumer sentiment into the everyday consumer shopping experience.
As GMG's app development and technology partner, IBM not only serves as the blockchain engine, but also as an integral part of the data-rich user experience. IBM blockchain is utilized to authenticate products while tracking and recording the product journey from origin to shopping cart. This allows for real-time customer engagement direct from the shopping aisle.
More information about Genuine Marketing Group Inc. can be found at https://genuinemarketinggroup.com/
Contact: Greg Needham
Email: greg@theworldpokerstore.com
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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SOURCE The World Poker Store Inc. | https://www.whsv.com/prnewswire/2022/05/10/world-poker-store-inc-signs-letter-intent-merge-with-genuine-marketing-group-inc/ | 2022-05-11T02:39:33Z |
HANGZHOU, China and SHAOXING, China, May 10, 2022 /PRNewswire/ -- Ascletis Pharma Inc. (HKEX: 1672, "Ascletis") announces today the Investigational New Drug (IND) application approval of ASC22 (Envafolimab) by U.S. Food and Drug Administration (FDA) for the indication of immune restoration/functional cure of human immunodeficiency virus 1 (HIV-1) infected patients.
Human immunodeficiency virus (HIV) is estimated to infect approximately 37.7 million people globally, with approximately 0.68 million deaths in 2020 and approximately 1.5 million new infections occurring yearly[1]. In the U.S., there were approximately 1.2 million patients living with HIV at year-end 2019[2]. Combination antiretroviral therapy (cART) may lead to viremia suppression but is not curative, as nearly all HIV infected individuals experience viral rebound within weeks or months after antiretroviral therapy discontinuation.
ASC22 (Envafolimab) is a subcutaneously administered single domain antibody against PD-L1 and has the potential to restore virus-specific immune responses in patients with chronic viral infection. Immune restoration/functional cure in HIV-1 infected patients is the second indication of ASC22 that obtained IND approval from U.S. FDA, in addition to the indication of functional cure of chronic hepatitis B (CHB) patients.
The U.S. FDA approved ASC22 trial is a multi-center, randomized, single-blind, placebo-controlled, Phase I/II clinical trial to evaluate the safety, efficacy, and pharmacokinetics characteristics of ASC22 in HIV infected patients on antiretroviral therapy (ART). The objectives of this Phase I/II trial are (1) to evaluate the safety of ASC22 versus placebo in participants on suppressive ART; (2) to determine whether ASC22 1.0 mg/kg, given once every four weeks, can improve HIV-1-specific cellular immune responses; and (3) to evaluate the effects of ASC22 versus placebo on latency reversal of HIV.
Ascletis announced that it had obtained a global and exclusive license as of November 8, 2021 from Suzhou Alphamab Co., Ltd. to develop and commercialize ASC22 for all viral diseases including Hepatitis B and HIV/AIDS. Ascletis books sales globally for ASC22 of all viral diseases.
"U.S. IND approval of ASC22 (Envafolimab) for HIV/AIDS treatment is a major step in our effort to pursue HIV functional cure. Meanwhile, we are looking forward to collaborating with the industrial leaders in the field of HIV/AIDS." said Jinzi J. Wu, PhD, Founder, Chairman and CEO of Ascletis.
About Ascletis
Ascletis is an innovative R&D driven biotech listed on the Hong Kong Stock Exchange (1672.HK), covering the entire value chain from discovery and development to manufacturing and commercialization. Led by a management team with deep expertise and a proven track record, Ascletis focuses on three therapeutic areas with unmet medical needs from a global perspective: viral diseases, non-alcoholic steatohepatitis (NASH) and oncology. Through excellent execution, Ascletis rapidly advances its drug pipeline with an aim of leading in global competition. To date, Ascletis has three marketed products, i.e. ritonavir tablets, GANOVO® and ASCLEVIR®, and 20 drug candidates in its R&D pipeline. The most advanced drug candidates include ASC22 (HBV functional cure), ASC10 and ASC11(oral small molecules for COVID-19), ASC40 (recurrent glioblastoma), ASC42 (PBC, primary biliary cholangitis), and ASC40 (acne).
For more information, please visit www.ascletis.com.
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SOURCE Ascletis Pharma Inc. | https://www.whsv.com/prnewswire/2022/05/11/ascletis-announces-us-ind-approval-asc22-envafolimab-immune-restorationfunctional-cure-hiv-1-infected-patients/ | 2022-05-11T02:39:40Z |
CHICAGO, May 10, 2022 /PRNewswire/ -- Burrell Communications Group, one of the world's leading multicultural marketing communications agencies, has announced the naming of Khari Streeter as its new chief creative officer, effective immediately. In this role, Streeter will lead the agency's dynamic, award-winning creative teams in developing the strategic, impactful work that is the agency's hallmark.
A respected leader, creative visionary, storyteller and filmmaker with three decades of experience, Streeter most recently served as executive vice president, creative director and head of Production for Hill Holiday, the respected, Boston-based marketing communications agency. While there, he effectively co-led the creative teams and headed integrated production including broadcast, digital, 360 activations and internal communications. He also oversaw and directed the business unit alignment for the agency's Bank of America/Merrill Lynch and U.S. Trust accounts.
Streeter additionally worked across categories on the Reebok, Cadillac, BMW Motorrad, Planet Fitness, American Lung Association, Liberty Mutual, Blue Cross-Blue Shield, Anheuser Busch, adidas and Converse accounts, among many others.
"Khari Streeter is a driven, industry acknowledged creative storyteller with a longstanding reputation for delivering results that resonate with audiences—which is of critical importance in this age of social evolution and change," said McGhee Osse, co-CEO of Burrell. "He's an insightful, passionate person who is widely recognized for the thinking, images and inspiration that he brings to his work, and we're thrilled to welcome him to this role," states co-CEO Fay Ferguson.
"I've had a non-linear path. Throughout my career and experience in advertising, a lot of my effort has been spent trying to convince clients that they need to have diverse work, diversity in their work, diverse audiences for their work as well as to try and lead the agencies that I've been a part of to increase their diversity in-house," Streeter says. "In this time of heightened awareness and the prioritization of inclusion, the trend has seemed to be headed in the right direction, but it's still performative. With the opportunity that Burrell represents, we're starting at a point that Burrell has already created the momentum for."
Streeter has garnered a host of awards for his work across the industry, including the AAF's diversity, equity and inclusion Mosaic Award for Allyship to Advocacy, awards from Communication Arts, the Effies and the Webbies. He's a Sundance Film Festival NHK International Screenplay Award winner, and has won the Grand Jury Prize from HBO's Urban World Film Festival and other accolades for his filmmaking.
About Burrell Communications Group
Founded in 1971, Burrell Communications Group was established to forge an authentic and respectful relationship with the African American consumer. Upon founder Tom Burrell's retirement in 2004, Fay Ferguson and McGhee Osse became Co-CEOs. Under their leadership the agency has continued to thrive, creating impactful campaigns for blue-chip clients such as Toyota, Comcast/Xfinity, McDonald's, P&G, Coca-Cola and Walmart, among others. For more information, please visit www.burrell.com.
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SOURCE Burrell Communications | https://www.whsv.com/prnewswire/2022/05/11/burrell-communications-group-names-khari-streeter-its-new-chief-creative-officer/ | 2022-05-11T02:39:47Z |
CoverGo's Series A highlights the company's rapid growth and success, with annual recurring software revenue increasing more than 10x since January 2021.
NEW YORK and SINGAPORE, May 9, 2022 /PRNewswire/ -- CoverGo, the leading global enterprise no-code SAAS insurance platform, today announced it has secured $15 million in Series A funding led by California-based SemperVirens VC with participation from US venture capital firms SixThirty, Tribeca Early Stage Partners and Fresco Capital. Strategic investors include pan-African insurance group Old Mutual, Asia-based insurance group Asia Financial Holdings, US-based XN Worldwide Insurance (part of the Henner Group) and Middle East and African insurance fund Noria Capital. Existing insurtech investors also participated in the oversubscribed round.
Caribou Honig, general partner of SemperVirens, also known as the Godfather of Insurtech and founder of the world's largest insurtech conference InsureTech Connect, will also be taking a board observer seat as part of the investment.
A growing number of P&C, health and life insurance companies and emerging insurtech companies have adopted CoverGo's platform to build and launch all types of insurance products within days, develop omni-channel distribution, streamline policy admin and automate claims processes. As a result, CoverGo's annual recurring revenue grew more than 10x since January 2021.
CoverGo is already working with major insurance companies such as AXA, MSIG (MS&AD Insurance Group), Dai-ichi Life and Bank of China Group Insurance, and delivery partners such as Deloitte, Accenture, IBM and Synpulse in Asia, US, Canada, Latin America, Middle East and other markets across the globe. The new investment will help accelerate CoverGo's international expansion, develop its partner network with consulting companies and grow the sales and engineering teams in the US and Asia-Pacific to meet the increasing demand for the CoverGo platform.
"There are only a handful of technologies that are significantly transforming the insurance industry, and no-code is clearly on the short list," said Caribou Honig. "As carriers lean into enabling innovation, CoverGo is uniquely positioned to accelerate their digital transformation and drive efficiencies across the insurance value chain. CoverGo's next-generation platform is providing carriers an unbeatable mix of speed to market, cost savings, and security to succeed both now and in the future. We are excited to support CoverGo on its growth journey and expansion in the US market."
"Insurance companies realize now more than ever that custom IT development is too slow and costly while off-the-shelf software packages can't satisfy changing product requirements and customer needs. This is why we see fast growing demand worldwide for a truly configurable no-code platform allowing companies to be agile and stay relevant in the changing world," said Tomas Holub, CEO and Founder of CoverGo. "The new funding and unique mix of strategic insurance investors will help accelerate adoption of CoverGo by insurance companies globally."
Learn more about why insurance companies are choosing CoverGo at covergo.com.
About CoverGo
CoverGo has developed the insurance industry's first out-of-the-box, modular, no-code insurance platform powered by over 500 open insurance APIs enabling insurance companies to transform digitally in the most flexible, scalable and cost-effective way. P&C, health and life insurance companies use CoverGo to build and launch all types of insurance products within days, develop omni-channel distribution, streamline policy admin and automate claims processes. To learn more, visit https://covergo.com.
About SemperVirens VC
SemperVirens is a leading US-based ecosystem-driven investment firm focused on companies in the workforce, healthcare, and financial technology markets. The firm has a network of executives, industry analysts, and distribution partners that serve as a proprietary platform for accessing, analyzing, and amplifying the most promising companies in its target sectors.
Media Contact
Julien Hauss
Email: hello@covergo.com
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SOURCE CoverGo | https://www.whsv.com/prnewswire/2022/05/11/covergo-raises-15-million-series-expand-global-adoption-leading-no-code-insurance-platform/ | 2022-05-11T02:39:53Z |
BOGOTÁ, Colombia, May 10, 2022 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced today the Ecopetrol Group's financial results for the first quarter of 2022.
Table 1: Financial Summary Income Statement –Ecopetrol Group
The financial information included in this report has not been audited and is expressed in billions or trillions of Colombian pesos (COP), or US dollars (USD), or thousands of barrels of oil equivalent per day (mboed) or tons, as noted. For presentation purposes, certain figures in this report were rounded to the nearest decimal place.
In words of Felipe Bayón Pardo, CEO of Ecopetrol:
"Ecopetrol closed the first quarter of 2022 with results that support our efforts aligned with a fair and responsible energy transition, affirming our commitment to provide energy security in Colombia and other countries where we operate, within the framework of our 2040 Strategy "Energy that Transforms".
The current international crude oil price environment (average 1Q22 Brent price was 98 USD/Bl) is being driven primarily by the uncertainty that the Russia-Ukraine conflict has generated on global hydrocarbon supply, and the recent Chinese lockdown implications on demand. The Ecopetrol Group and the countries where we operate are not exempt from the consequences of this situation nor to its impact on economic recovery.
Although the increase in prices has benefitted our revenues, it has also created challenges in terms of inflation, where high energy costs and an international logistics crisis are beginning to pressure our operating costs and project execution timelines. The Ecopetrol Group has been constantly monitoring the direct and indirect impacts of inflation and has implemented actions to mitigate its effects.
During the quarter, in our Grow with the Energy Transition strategic pillar, we achieved positive results across all segments. In exploration, I would like to highlight the results of the 3rd Permanent Offer Cycle of the ANP in Brazil, where, in conjunction with Shell, we obtained 6 offshore blocks, located in the Santos basin, increasing our presence now to 12 offshore Brazilian blocks, as we continue consolidating our exploration efforts in high potential basins.
In production we reached this quarter an average of 692 mboed, an increase of 16.3 mboed as compared to the same quarter of 2021, primarily explained by: i) our outstanding operating performance of unconventionals in the Permian (USA); ii) positive results in the Liria YW12 and Flamencos exploratory wells; and, iii) production recovery in the Castilla field. Compared to 4Q21, production decreased due to maintenance and operational activities, and public order circumstances, situations that have been gradually restored. As of March, we achieved an average production of 705 mboed.
During this quarter, the contribution to production of gas was 19.8% (136.7 mboed) and whites was 3.8% (26.2 mboed) for a total increase of natural gas of 6.1% compared to 1Q21 driven by domestic demand recovery.
In Unconventional Reservoirs, with 31 new wells in Permian entering into production, we completed a total of 135 producing wells, reaching an average JV production in March of 61.4 mboed (net for JV before royalties), corresponding to 30.1 mboed net for Ecopetrol before royalties. For the quarter, average production was 26.7 mboed (net for Ecopetrol before royalties). On March 25th, the ANLA issued a resolution granting the environmental license for the Kalé Integral Exploratory Pilot Project in Colombia, which we expect will be confirmed as final during the next few months. We are also expecting the public audience for the environmental impact study for the Platero project, which was filed in February of this year. At the Ecopetrol Group we are convinced of the importance that unconventionals represent for the country's energy security; and as such, we will continue pursuing activities related to the pilots, including multiple discussions with local communities and other stakeholders to provide details about the projects progress and clarify their concerns.
The Midstream segment reported a strong performance this quarter, with total volumes transported through our multipurpose and oil pipelines increasing by 3.3% as compared to the same period last year, leveraged on an increase in production as a result of the economic recovery.
In the Downstream segment, the consolidated throughput reached 325 mbd during a quarter characterized by scheduled maintenance activities in both refineries; as a result of comprehensive planning in the logistics chain, we were able to fully supply the domestic market. In addition, we celebrated the 100-year anniversary of the Barrancabermeja Refinery, a leading force of the country's development.
On the commercial front, we highlight the improvement of the realization price of our crude oil basket, which increased from 57.8 USD/Bl in 1Q21 to 88.3 USD/Bl in 1Q22 as a consequence of the Brent increase and the ongoing commercial strategy to diversify to other export destinations, which mitigated the effect of a more competitive market. Furthermore, Ecopetrol Trading Asia completed its first sale for 1.09 million barrels of crude which we expect to deliver during the second quarter of this year.
In the Energy Transmission and Toll Roads segment we invested USD 199 million during the quarter. We continued the construction of the energy transmission projects awarded to ISA CTEEP in prior bids and with reinforcement and improvement works to its transmission network. We also advanced in Peru in the Coya-Yaná project, and in Colombia in the execution of several UPME (Unidad de Planeación Minero Energética) projects.
In our Generate Value through TESG pillar, we can report the following advances:
On the environmental front, we defined our emission reduction target for this year (262,761 tCO2e), in line with our decarbonization goals and we set in motion our first green hydrogen production project in the Cartagena Refinery. We expect to pursue a robust plan in order to produce green, blue and white hydrogen, which we hope will contribute between 9% and 11% of our 50% emission reductions goal in Scopes 1, 2 and 3 by 2050. In 2022, we contemplate an investment of USD 6 million for the development of this pilot program in the Cartagena Refinery and to carry out projects and studies on hydrogen's potential.
We achieved a reduction of more than 490 thousand tons of carbon emissions in the Ecopetrol Group over the past two years as a result of a comprehensive campaign that includes fugitive emissions and venting reduction, the decrease of routine flaring and the incorporation of renewable energies that focus primarily on solar parks, as well as other initiatives to continue our progress in energy efficiency.
On the social dimension, resources amounting to COP 68 billion were allocated to social investment across strategic and regulatory projects Noteworthy in this quarter is the completion of three infrastructure projects in the departments of Casanare, Nariño and the Paujil-Cartagena road, for a total of 31 projects completed under the "Works in Lieu of Taxes" mechanism.
On the corporate governance front, we highlight the following milestones during the quarter: i) we carried out our first in-person General Shareholders' Meeting after two years of virtual mode; and ii) the shareholders' approval of a total dividend of COP 280 per share (ordinary of COP 234 and an extraordinary of COP 37 per share), for a total of COP 11.5 trillion, which results in a dividend yield of 10.4%.
We highlight the release of the first ESG Evaluation made by S&P on Ecopetrol in which we achieved a score above the industry average and in which our Corporate Governance rates are above our peers. In addition, we also published our Comprehensive Sustainable Management Report for 2021 and and the second SASB report
Regarding the Cutting-edge Knowledge pillar, we partnered with Accenture and Amazon Web Services (AWS) to foster TESG and operating efficiency in companies in the power industry. Through this project, we seek to build an open data water management platform that will incorporate analytics, AI (Artificial Intelligence) and cloud storage capabilities to leverage the use and efficient management of water resources in the Oil & Gas industry. This partnership represents a key effort towards our recently announced goal to become water-neutral by 2045. We expect to allocate USD 200 million in investments to water management projects this year.
We joined forces with ANDI, iNNPulsa Colombia, and other organizations to create the first Center for Innovation and Technology of the Caribbean, which will be a part of the C-Emprende national network. This think tank seeks to present solutions for energy transition and petrochemical challenges, with a leading role from hydrogen.
Finally, regarding our Competitive Returns strategic pillar, I am pleased to announce that we obtained the highest quarterly results in the history of Ecopetrol. We closed the quarter with consolidated revenue of COP 32.5 trillion, which represents an increase of 89% as compared to 1Q21, a net profit of COP 6.6 trillion, an EBITDA of COP 15.9 trillion (EBITDA margin of 49%), and a Gross Debt/EBITDA leverage indicator of 1.8x. The return on average capital employed (ROACE) was 14.5%. During the period, ISA's contribution to the Ecopetrol Group totaled net income of COP 0.2 trillion and EBITDA of COP 2.0 trillion.
At the end of the quarter, the Ecopetrol Group closed with a cash balance of COP 16.5 trillion, committed CAPEX equivalent to USD 986 million (COP 3.9 trillion), in line with the 2022 investment plan, and an account receivable balance from the Fuel Price Stabilization Fund (FEPC in Spanish) amounting to COP 14.1 trillion. We are actively working with the Ministries of Finance and Mines and Energy to propose structural solutions to these fuel subsidies, and complete the liquidation and payment processes of these accounts.
Continuing with our strategy of improving efficiencies, during the first quarter of the year we incorporated savings for COP 358.2 billion by strengthening the EBITDA margin, with improvements in product and petrochemical margins, dilution strategies, and lifting cost optimization, among others, which have allowed us to partially offset the inflationary effects brought to our operation.
I would like to end by recognizing and highlighting that our results evidence the commitment of the Group's more than 18,000 employees who work towards guaranteeing the country's energy security and our continued contribution to the Country's economic growth."
To review the full report please visit the following link:
https://www.ecopetrol.com.co/wps/wcm/connect/49b88275-c946-431c-9985-c3d3124ec50c/Reporte+1Q22+Ecopetrol+-+Master+ENG+6k+vf.pdf?MOD=AJPERES&attachment=false&id=1652221143808
Bogotá D.C., May 10, 2022
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Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.
This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.
For further details, please contact:
Head of Capital Markets
Tatiana Uribe Benninghoff
Email : investors@ecopetrol.com.co
Media Engagement (Colombia)
Jorge Mauricio Téllez
Email : mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A. | https://www.whsv.com/prnewswire/2022/05/11/ecopetrol-group-announces-first-quarter-2022-results/ | 2022-05-11T02:40:00Z |
NEW YORK, May 10, 2022 /PRNewswire/ -- TECNO's POVA 3 is set to deliver an unprecedented tactile mobile gaming experience, offering gamers a respite from the monotony and stress of life anytime, anywhere. As a global premium smartphone industry leader, POVA 3 reiterates TECNO's commitment to elevating a seamless smartphone experience for its users. The upcoming release follows the success of TECNO's performance-oriented POVA series, which led the brand to achieve greater technological and innovative breakthroughs.
Fully Immerse in Gaming Worlds with New 4D Vibration, High-Performing Processor and Display
POVA 3's 4D vibration, supercharged by its z-axis linear motor, is the power punch of kinetic energy that gamers crave to immerse themselves in their gaming worlds fully. The smartphone's stereo-sound dual speakers and improved Panther Game Engine 2.0 aim to help gamers complete their missions with greater ease by sharpening their awareness within in-game environment and improving reaction time. With POVA 3's powerful processor and high-refresh-rate vast display, gamers can make the best split-second decisions and relish in a lag-free, top-tier graphics gaming experience.
Break Records with POVA 3's Powerhouse Battery and Fast Charge
Gamers can also enjoy longer, uninterrupted gaming sessions powered by POVA 3's ultra-strong battery without worrying about overheating their devices. Its upgraded cooling features are divulged to increase heat dissipation, keeping gamers stable even during the most feverish gaming experiences. POVA 3's long-lasting battery life and superior fast charge prepare gamers to break new gaming records at all times.
Achieve Gamer's High with POVA 3's Avant-Garde Visuals Anytime, Anywhere
The first look of TECNO's POVA 3 exudes enigma, making it a worthy contender as the next stylish accessory of innovators in the technological and fashion spheres. What truly sets its design apart is its eye-catching LED vertical bar. It hopes to replicate the same adrenaline rush gamers get from their LED-powered PC set-ups, extending the thrilling sensation from their homes to wherever they are.
Once again, TECNO's POVA 3 will set another significant milestone by merging the functionalities of a top-notch game console and smartphone into a single device. Gamers now can await more exciting details about soon-launching POVA 3's performance-laden inner capabilities in hopes of adding the full-featured smartphone to their gaming repertoire.
About TECNO
TECNO is a premium smartphone and AIoT devices brand from TRANSSION Holdings. With "Stop At Nothing" as its brand essence, TECNO is committed to unlocking the best contemporary technologies for progressive individuals across global emerging markets, giving them elegantly designed intelligent products that inspires consumers to uncover a world of possibilities. TECNO understands the needs of consumers from different markets and provides them with localized innovations and design breakthroughs demonstrated through their mastery of serving consumers who are "young at heart" and never stops pursuing excellence. TECNO's portfolio spans across smartphones, tablets, smart wearables and AIoT devices made for consumers in over 70 emerging markets world-wide. TECNO is also the Official Partner of Manchester City, Premier League Champions 2020-21. For more information, please visit: www.tecno-mobile.com.
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SOURCE TECNO | https://www.whsv.com/prnewswire/2022/05/11/launching-soon-tecnos-pova-3-advances-mobile-gamers-new-levels-with-tactile-advantage/ | 2022-05-11T02:40:09Z |
PARK RIDGE, Ill., May 10, 2022 /PRNewswire/ -- (AANA)—Michigan is now the 20th state to opt out from federal regulations that require physician supervision of Certified Registered Nurse Anesthetists (CRNAs). The American Association of Nurse Anesthesiology (AANA) reports that the governors of 19 additional states and Guam have exercised such exemptions.
Gov. Gretchen Whitmer's action in signing the opt-out ensures Michigan's patients have access to value-based, high-quality care and optimizes healthcare teams across the state, according to Adam Kuz, MS, CRNA, president of the Michigan Association of Nurse Anesthetists (MANA).
In July 2021, Gov. Whitmer signed HB4359 to remove supervision requirements for CRNAs in the state nurse practice act.
"Removing barriers to CRNA practice allows Michigan hospitals to select the anesthesia delivery model that maximizes their workforce and increases access to safe, affordable care for all patients," said former MANA president Toni Schmittling, DNAP, MBA, CRNA. "By signing this important legislation, Michigan recognizes that CRNAs are qualified to make decisions regarding all aspects of anesthesia care based on their education, licensure, and certification."
Anesthesia services are provided predominantly by CRNAs in Michigan's critical access hospitals, which offer offering surgical services in 99% of its rural hospitals. They comprise 68% of the state's anesthesia care providers.
"The AANA applauds Gov. Whitmer for recognizing the important role CRNAs have in delivery of safe anesthesia care in Michigan," said AANA President Dina Velocci, DNP, CRNA, APRN. "Increased demand, limited resources, and a state with diverse populations, both rural and urban, dictate that a system capable of meeting the needs of all Michigan residents be maintained. By signing the opt-out letter, this has been achieved."
In March 2020, to maximize healthcare resources during the outbreak of the COVID-19 pandemic, Gov. Whitmer enacted an executive order removing physician supervision for CRNAs. HB4359 made that order permanent.
Throughout the COVID-19 pandemic, nurse anesthetists across the country have, in addition to providing top-of-the-line anesthesia care, served as experts in airway management, hemodynamic monitoring, management of patients on ventilators, and overall management of critically ill patients. Instrumental in addressing the deadliest part of COVID-19, CRNAs have become highly sought-after anesthesia care providers.
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SOURCE American Association of Nurse Anesthesiology | https://www.whsv.com/prnewswire/2022/05/11/michigan-opts-out-physician-supervision-crnas/ | 2022-05-11T02:40:16Z |
Q2 FY2022 Orovalle Highlights:
- Production impacted by the nationwide transportation strike in March, the COVID-19 sixth wave in Spain and delays in spare parts supply in Europe. Mining and milling activities returned to full operational levels in April
- Costs impacted by exorbitant electricity prices when the conflict in Ukraine started. Actions are being taken by the Spanish Government to limit prices
- 10,595 gold equivalent ounces produced (8,341 Au oz, 0.8 million Cu lb and 25,703 Ag oz)
- COC at $1,983 and AISC at $2,306
Q2 FY2022 Consolidated Highlights:
- Revenue ($M): 21.9
- EBITDA ($M): (2.7)
- CAPEX ($M): 4.7
- Unrestricted Cash EoP ($M): 13.6
TORONTO, May 10, 2022 /PRNewswire/ - Orvana Minerals Corp. (TSX: ORV) (the "Company" or "Orvana") reports consolidated financial and operational results for the quarter ended March 31, 2022 and announces revised guidance for fiscal year 2022 for the Orovalle operation to take into consideration the impacts caused by COVID-19 related absenteeism, delays in spare parts supply in Europe, the nationwide transportation strike in Spain, and rising annual inflation rates in Spain reaching near 40-year highs causing higher prices for energy, materials, supplies and services.
This news release should be read in conjunction with the Company's Management's Discussion and Analysis, unaudited Financial Statements and Notes to unaudited Financial Statements for the corresponding period, which have been posted on the Orvana Minerals Corp. SEDAR profile at www.sedar.com, and which are also available on the Company's website at www.orvana.com. All figures are in U.S. dollars unless otherwise noted.
"Orvana has a well defined and clear strategy based on developing its three assets for the long term. In that sense we had an exceptional quarter, with very encouraging drilling results in Spain and Argentina, coupled with the successful completion of metallurgical testing and economic modeling in Bolivia. On the annual production side, we did have a challenging quarter in Spain as exceptional national, and continental, events, unfolded simultaneously, causing intermittent disruptions of operations and rising production costs", said Orvana CEO Juan Gavidia. "Our Spanish operation's amended guidance reflects the impact of the previous months, but does not affect our outlook of Orovalle's performance in the medium to longer term. Spain continues to be the cornerstone of Orvana's "organic growth strategy", meaning free operating cash for the rest of the year is committed to create value through expanded mineral resource modeling for Spain and Argentina, and detail project engineering for Bolivia. The Company, expects to be in a favourable position by the end of this fiscal year to continue the development of its defined strategy of continued production and development of organic growth," added Juan Gavidia.
Consolidated Financial Results and Operating Highlights:
- Revenue of $21.9 million for the three months ended March 31, 2022 ("Q2 FY2022") and $48.5 million for the six months ended March 31, 2022 ("H1 FY2022").
- EBITDA of negative $2.7 million for Q2 FY2022 and positive $2.4 million for H1 FY2022.
- Capital expenditures (on a cash basis) of $4.7 million for Q2 FY2022, and $9 million for H1 FY2022.
- $13.6 million of cash and cash equivalents as at March 31, 2022.
- Orovalle:
- EMIPA:
- Orvana Argentina:
Consolidated Financial Results and Operating Highlights:
Consolidated Results
Revised Guidance:
Orovalle's production, revenue and costs suffered material impacts in the first half of fiscal 2022 due to:
- COVID-19 related workforce absenteeism that resulted in lower productivity and production.
- Lower fleet mechanical availability due to delays in spare parts supply around Europe, impacting both mine and plant efficiencies.
- Operations shutdown in March 2022, due to an unusually severe nationwide transportation strike in Spain, that disrupted supply chains across all sectors, and regions, especially the highly industrialized north, where El Valle sits.
- Regular level of indirect fixed costs, that given lower production, originated materially higher unit costs.
- Higher prices for energy, materials, supplies and services. Spain's annual inflation was 6.7% in December 2021, reaching a near 40-year high of 9.8 percent in March 2022. Fuel and electricity pricing were at the core of this phenomenon.
The above-mentioned operational issues are temporary and the Company expects that they will not affect Orovalle's performance in the medium to longer term. Actions are being taken to return to full operational levels, while continuing to manage outstanding risks related to COVID-19.
The conflict in Ukraine is causing significant economic and social effects, which are affecting all European countries. The Spanish Government approved in March an economic package to mitigate the impacts of the armed conflict. The European Union announced late April that it will allow Spain and Portugal to apply a limit to the gas price used in power generation for a 12 month period, with the gas price cap set at Eur50/MWh. Spain's Central Bank forecasted early April consumer prices to surge 7.5% in 2022, but just 2% in 2023. The Company expects that this inflationary scenario is temporary and will not affect Orovalle's results in the medium to longer term in a material way. The Company's strategy for the second half of fiscal 2022 is to manage its existing capital resources and liquidity in a prudent fashion while continuing to manage price hikes impacting our cost structure.
The Company has assessed the impact of the above-mentioned circumstances, therefore adjusting its production and cost guidance for FY2022 accordingly:
ABOUT ORVANA - Orvana is a gold-copper-silver company. Orvana's assets consist of the producing Orovalle Operation in northern Spain, the Don Mario property in Bolivia, currently in care and maintenance, and the Taguas property located in Argentina. Additional information is available at Orvana's website (www.orvana.com).
Cautionary Statements - Forward-Looking Information
Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements.
The forward-looking statements herein relate to, among other things, Orvana's ability to achieve improvement in free cash flow; the ability to maintain expected mining rates and expected throughput rates at El Valle Plant; the potential to extend the mine life of El Valle and Don Mario beyond their current life-of-mine estimates including specifically, but not limited to, in the case of Don Mario, the processing of the mineral stockpiles and the reprocessing of the tailings material; Orvana's ability to optimize its assets to deliver shareholder value; the Company's ability to optimize productivity at Don Mario and El Valle; estimates of future production, operating costs and capital expenditures; mineral resource and reserve estimates; statements and information regarding future feasibility studies and their results; future transactions; future metal prices; the ability to achieve additional growth and geographic diversification; and future financial performance, including the ability to increase cash flow and profits; future financing requirements; mine development plans.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies, which includes, without limitation, as particularly set out in the notes accompanying the Company's most recently filed financial statements. The estimates and assumptions of the Company contained or incorporated by reference in this information, which may prove to be incorrect, include, but are not limited to the various assumptions set forth herein and in Orvana's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the "Company Disclosures") or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle and Don Mario being consistent with the Company's current expectations; political developments in any jurisdiction in which the Company operates being consistent with its current expectations; certain price assumptions for gold, copper and silver; prices for key supplies being approximately consistent with current levels; production and cost of sales forecasts meeting expectations; the accuracy of the Company's current mineral reserve and mineral resource estimates; labour and materials costs increasing on a basis consistent with Orvana's current expectations; and the availability of necessary funds to execute the Company's plan. Without limiting the generality of the foregoing, this presentation also contains certain "forward-looking statements" within the meaning of applicable securities legislation, including, without limitation, statements with respect to the results of the preliminary economic assessment, including but not limited to the mineral resource estimation, conceptual mine plan and operations, internal rate of return, sensitivities, taxes, net present value, potential recoveries, design parameters, operating costs, capital costs, production data and economic potential; the timing and costs for production decisions; permitting timelines and requirements; exploration and planned exploration programs; the potential for discovery of additional mineral resources; timing for completion of a feasibility study; timing for first gold production at Taguas; processing the stockpile at El Valle in connection with the metal production catch-up program; identifying additional resources beyond the replenishment of annual depletion rates at El Valle for the extension of mine life; issuing an expanded resource PEA for Taguas in a timely manner; completion of the infill drilling program at Taguas; making a decision on the oxides stockpile at Don Mario in a timely manner; and the Company's general objectives and strategies.
A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: the potential impact of the COVID-19 on the Company's business and operations, including: our ability to continue operations; our ability to manage challenges presented by COVID-19; the accounting treatment of COVID-19 related matters; Orvana's ability to prevent and/or mitigate the impact of COVID-19 and other infectious diseases at or near our mines; the general economic, political and social impacts of the continuing conflict between Russia and Ukraine, our ability to support the sustainability of our business including through the development of crisis management plans, increasing stock levels for key supplies, monitoring of guidance from the medical community, and engagement with local communities and authorities; fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the El Valle and/or ability to resume long-term operations at the Carlés Mine; the Company's ability to successfully implement a sulphidization circuit and ancillary facilities to process the current oxides stockpiles at Don Mario; the Company's ability to successfully carry out development plans at Taguas; sufficient funding to carry out development plans at Taguas and to process the oxides stockpiles at Don Mario; the Company's ability to acquire and develop mineral properties and to successfully integrate such acquisitions; the Company's ability to execute on its strategy; the Company's ability to obtain financing when required on terms that are acceptable to the Company; challenges to the Company's interests in its property and mineral rights; current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in the countries in which the Company operates; general economic conditions worldwide; the challenges presented by COVID-19; fluctuating operational costs such as, but not limited to, power supply costs; current and future environmental matters; and the risks identified in the Company's disclosures. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Disclosures for a description of additional risk factors.
Any forward-looking statements made herein with respect to the anticipated development and exploration of the Company's mineral projects are intended to provide an overview of management's expectations with respect to certain future activities of the Company and may not be appropriate for other purposes. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements made in this information are intended to provide an overview of management's expectations with respect to certain future operating activities of the Company and may not be appropriate for other purposes.
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SOURCE Orvana Minerals Corp. | https://www.whsv.com/prnewswire/2022/05/11/orvana-reports-consolidated-financial-results-second-quarter-fiscal-2022-provides-revised-guidance/ | 2022-05-11T02:40:26Z |
NEW YORK, May 10, 2022 /PRNewswire/ --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Everbridge, Inc. (NASDAQ: EVBG) between November 4, 2019 and February 24, 2022, inclusive (the "Class Period") of the important June 3, 2022 lead plaintiff deadline.
SO WHAT: If you purchased Everbridge securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Everbridge class action, go to https://rosenlegal.com/submit-form/?case_id=3095 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Everbridge was experiencing integration problems with respect to its acquiring nine separate companies; (2) Everbridge was using the revenues from these acquisitions to mask increasingly stagnant organic growth; and (3) Everbridge was failing to disclose that the COVID-19 pandemic was having a material impact on the size of the deals that Everbridge was able to obtain, with a negative effect on the Company's revenue growth. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Everbridge class action, go to https://rosenlegal.com/submit-form/?case_id=3095 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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SOURCE Rosen Law Firm, P.A. | https://www.whsv.com/prnewswire/2022/05/11/rosen-national-trial-lawyers-encourages-everbridge-inc-investors-with-losses-secure-counsel-before-important-deadline-securities-class-action-evbg/ | 2022-05-11T02:40:33Z |
Searchbloom named among best workplaces
DRAPER, Utah, May 10, 2022 /PRNewswire/ -- Searchbloom has been named to Inc. magazine's annual Best Workplaces list. Featured in the May/June 2022 issue, hitting newsstands on May 17, 2022, and prominently featured on Inc.com, the list is the result of a comprehensive measurement of American companies that have excelled in creating exceptional workplaces and company culture, whether operating in a physical or virtual facility.
Achieving the Inc. magazine's Best Workplaces award is a major milestone for Searchbloom. The Search Engine Marketing industry is young, and the ability of professionals to enjoy their work, have a growth path, and be effective is key to future success. Searchbloom's culture prioritizes these elements and much more. Receiving this prestigious award provides positive evidence that Searchbloom's values-first model is leading the way for future generations of SEOs.
After collecting data from thousands of submissions, Inc. selected 475 honorees this year. Each company that was nominated took part in an employee survey, conducted by Quantum Workplace, which included topics such as management effectiveness, perks, fostering employee growth, and overall company culture. The organization's benefits were also audited to determine overall score and ranking.
Cody C. Jensen, Searchbloom's CEO & Founder, shared this about receiving the award: "Searchbloom's company culture has been a top priority for a long time. We recognize and celebrate our team's success every day. Everything we do centers on fulfilling our promise and living up to our collective values. The results have convinced me that this is the path forward."
"Not long ago, the term 'best workplace' would have conjured up images of open-office designs with stocked snack fridges," says Inc. editor-in-chief Scott Omelianuk. "Yet given the widespread adoption of remote work, the concept of the workplace has shifted. This year, Inc. has recognized the organizations dedicated to redefining and enriching the workplace in the face of the pandemic."
About Searchbloom
Searchbloom provides cutting-edge search engine optimization and pay-per-click advertising for businesses to improve revenue using their revolutionary A.R.T. and A.C.E. methodologies. Its mission is to be the most trusted, transparent, and results-driven SEO and PPC marketing company in the industry.
About Inc. Media
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. For more information, visit www.inc.com.
CONTACT: Cody Jensen, 801-590-4051, press@searchbloom.com
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SOURCE Searchbloom | https://www.whsv.com/prnewswire/2022/05/11/searchbloom-ranks-among-highest-scoring-businesses-inc-magazines-annual-list-best-workplaces-2022/ | 2022-05-11T02:40:39Z |
With a growing body of scientific and medical research suggesting potential risks of blue light exposure, the Eyesafe® Display Requirements 2.0 represent the next generation of blue light standards for the global display industry.
SHANGHAI and MINNEAPOLIS, May 10, 2022 /PRNewswire/ -- TÜV Rheinland Group (TÜV Rheinland), a global leader in third-party testing and certification, and Eyesafe, a leader in blue light management and display solutions, today announced the release of the Eyesafe® Display Requirements 2.0. The partners introduced the Eyesafe® Display Requirements 1.0 in 2019, establishing an industry benchmark for low blue light emissions. Global PC companies and suppliers including Dell, HP, Lenovo, Acer, GIGABYTE, BenQ, LG Display, BOE and others have since adopted the requirements for a broad array of products from OLED TVs to high performance laptops and monitors.
The decision to develop and release the new Eyesafe® Display Requirements 2.0 is based on advancements in research – specifically, a more complete understanding of the potential risks associated with exposure to blue light. The Eyesafe® Display Requirements 2.0 simplify the existing requirements and focuses on Blue Light Toxicity Factor (BLTF) as the primary metric of blue light risk, utilizing a more complete portion of the blue light hazard region on the spectrum of visible light. The Eyesafe® Display Requirements 2.0 are available here.
The Eyesafe® Display Requirements 2.0 establish a limit of 0.085 for BLTF and address the industry's need for accurate color quality. The new requirements are detailed in the accompanying white paper titled "Defining Blue Light Requirements for Digital Displays." The new requirements reflect the input of world-renowned optometrists and ophthalmologists. TÜV Rheinland will begin offering the Eyesafe® Display Requirements 2.0 Certification in July 2022.
Along with the simplified requirements, TÜV Rheinland and Eyesafe are introducing the concept of Radiance Protection Factor for Display (RPF®). The introduction of RPF® will translate BLTF into a numerical scale from 0-100, making Eyesafe® Display Requirements easy to understand for consumers. Consumer electronics companies will be able to utilize RPF® as a mechanism to help consumers identify and compare the blue light protection of a given device. The chart here illustrates how RPF® for Display works.
"With screen time up significantly since the onset of COVID-19, the Eyesafe® Display Standards are more important than ever for the global population," said Dr. David Friess, chair of the Eyesafe Vision Health Advisory Board, which played a key role in defining the Eyesafe® Display Requirements 2.0. "The update simplifies and focuses the requirements against the area of most concern in regard to high-energy blue light and provides a simple metric with RPF® to help consumers understand reduction levels."
"The introduction of Radiance Protection Factor, or RPF®, as the new key performance metric that can be used to compare levels of blue light protection among different display options, removes the guesswork from consumers who have seen a massive proliferation and demand for low blue light devices in the marketplace in the past two years," added Dr. Dagny Zhu, a member of the Eyesafe Vision Health Advisory Board.
"TÜV Rheinland and Eyesafe have been leaders in defining a set of requirements for blue light management. The announcement of the Eyesafe® Display Requirements 2.0 comes at a critical juncture for the global display industry," remarked Frank Holzmann, Global Vice President of TÜV Rheinland Business Field Electrical. "As more and more brands offer low blue light display options, it's imperative that independent certification bodies like TÜV Rheinland offer more trustworthy and reliable information to consumers. With that goal in mind, we believe the new RPF® scale empowers brands and consumers to understand the level of blue light reduction in a simplified way. TÜV Rheinland has always been on the forefront of establishing benchmarks for the industry."
"When we introduced the original Eyesafe® Display Requirements in 2019, the industry was just beginning to offer low blue light devices to consumers," remarked Justin Barrett, the CEO and co-founder of Eyesafe. "Now that we are seeing broad-based adoption of low blue light as a necessary and standard feature in displays, it's important that we continue our leadership role in pushing the industry forward by introducing the Eyesafe® Display Requirements 2.0. This will set the benchmark for the next generation of displays."
"We believe RPF® will make it easy for consumers to quickly differentiate among competing devices that offer 'low blue light,'" added Barrett. "The RPF® scale puts the power of choice back in the hands of the consumer by enabling them to make the best decision for themselves, their employees, or their loved ones by knowing precisely how much blue light is emitted from the device."
To learn more about the TÜV Rheinland Eyesafe® Certification program, contact your TÜV Rheinland representative.
About TÜV Rheinland
TÜV Rheinland stands for safety and quality in virtually all areas of business and life. Founded 150 years ago, the company is one of the world's leading testing service providers with more than 20,600 employees and annual revenues of around 2 billion euros. TÜV Rheinland's highly qualified experts test technical systems and products around the world, support innovations in technology and business, train people in numerous professions and certify management systems according to international standards. In doing so, the independent experts generate trust in products as well as processes across global value-adding chains and the flow of commodities. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption. Learn more at www.tuv.com
About Eyesafe
Eyesafe Inc. is the worldwide supplier of advanced blue light mitigating technology, solutions, and standards. With pioneering products and services, in collaboration with healthcare, Eyesafe is shaping the future of consumer electronics designed with human health in mind. Eyesafe® Standards, Eyesafe® technology, and the associated intellectual property portfolio is developed by a world-class team of eye doctors, engineers, and scientists with decades of experience in electronics, display materials, light management, optometry, and ophthalmology. The Eyesafe brand is trusted by consumers and integrated in millions of digital devices from Dell, HP, Lenovo, ZAGG and others. Eyesafe was recently ranked #5 in the computer hardware category in the Inc. 5000 Fastest-Growing Private Companies in America. Learn more at eyesafe.com.
About the Eyesafe Vision Health Advisory Board
The Eyesafe Vision Health Advisory Board is a group of world-renowned optometrists and ophthalmologists who consult with Eyesafe to provide valuable insights that help drive research on the effects of blue light on the eyes and brain. They also help guide the development of Eyesafe® technology and industry standards to limit blue light emitted by the displays of electronic devices and other sources. Click here to learn more.
Media Contact:
Arick Wierson
arick@eyesafe.com
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SOURCE Eyesafe | https://www.whsv.com/prnewswire/2022/05/11/tv-rheinland-eyesafe-announce-release-eyesafe-display-requirements-20/ | 2022-05-11T02:40:45Z |
SAN FRANCISCO, May 10, 2022 /PRNewswire/ -- Vial has announced the highly-anticipated launch of VialConnect, an intuitive clinical trials management platform built for coordinators and investigators. VialConnect is offered at no cost and makes it simple for research sites to access Vial's modernized CTMS and additional services for patient recruitment.
Signing up for VialConnect gives sites access to two services for free: First, a customizable CTMS (clinical trials management system) that powers core workflows and provides operational visibility. And second, A HIPAA-compliant EMR filtering tool making it easier to sort potential trial subjects.
When asked about VialConnect, Stacey Gomez, a clinical research manager and one of the first users said, "Since implementing Vial's CTMS at our sites, our team's day-to-day operations have become faster and more efficient. We can easily schedule new appointments, track patients, and view all of our studies in one place. It's easy to navigate and our team loves it."
"We talked extensively with PIs and CRCs to identify their main pain points — the lack of an intuitive CTMS and an inability to recruit patients efficiently. VialConnect solves these issues through modernized tech solutions. After deploying VialConnect at our 30+ partner sites, it's clear from their feedback that our CTMS and patient recruitment program wins in all of these areas," said Simon Burns, Co-Founder and CEO of Vial.
Vial strives to be a next generation site management organization by providing the necessary resources for research practices to run trials with faster execution and higher quality. The company has over 90 employees and is based in San Francisco, California.
Learn more about VialConnect here.
See the full release here.
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SOURCE Vial | https://www.whsv.com/prnewswire/2022/05/11/vial-launches-vialconnect-modernized-ctms-with-patient-recruitment-assistance/ | 2022-05-11T02:40:52Z |
Brown City man found guilty of second-degree murder in drug-induced fatal crash
A Brown City man was found guilty Tuesday of second-degree murder and two other charges for causing a crash that killed one and injured two others.
James Stanich was found guilty by a jury of second-degree murder, operating while intoxicated causing death and tampering with evidence.
The jury read their verdict shortly after 3 p.m., after about an hour and 45 minutes of deliberations. As the jury was read, family members of both Stanich and the crash victims cried and covered their mouths with their hands.
Stanich is scheduled for a sentencing hearing at 1:30 p.m. June 13 in front of St. Clair County Circuit Court Judge Michael West.
Stanich drove his Chevrolet pickup the wrong way on I-69 on March 7, 2021, crashing head-on into a Dodge Challenger east of M-19 in Emmett Township at about 10 p.m.
In the hours before the crash, Stanich huffed Dust-Off and also had cocaine and marijuana in his system.
The impact forced the Challenger into the path of an eastbound Honda Accord, causing a second collision, police have said.
The head-on crash resulted in the death of Graham Wiltse, 30, of Sterling Heights.
Contact Laura Fitzgerald at (810) 941-7072 or lfitzgeral@gannett.com. | https://www.thetimesherald.com/story/news/2022/05/10/brown-city-man-found-guilty-second-degree-murder-drug-induced-fatal-crash/9721516002/ | 2022-05-11T02:47:18Z |
Concert series on Riverview Plaza to get an early start in St. Clair this weekend
Bands have been playing regularly on Riverview Plaza for the last two summers, but this year, the growing concert series is getting an early start this weekend in St. Clair.
“The end of the month is when everything, quote-unquote, starts, but the weather was so good. (We said), 'It’s going to be like 80 degrees. Let’s take advantage of it,'" said St. Clair County Board Chairman Jeff Bohm.
Bohm began spearheading the organization of sponsored shows on the plaza early in the pandemic.
As of Monday, he said they have 173 shows booked.
Dusk 'til Dawn and the Gobies are slated to perform from 7 to 11 p.m. Friday and Saturday, respectively. The formal series starts Memorial Day weekend and runs through the end of October.
Bohm, whose district includes St. Clair, said those events and lineup will be included later this month on a calendar online through the St. Clair Chamber of Commerce, which is helping host the event.
The series of shows is running longer this year than it did in 2020 or 2021, as the effort continues to gain steam.
As of late last week, Bohm said they had "99% of the bands booked” with 160 shows at $257,000. The first year, he said it was about $18,000. Then, it was $145,000 in 2021.
Although the shows kick off while lot construction is still ongoing around the plaza, Bohm said it won't be until July and August when they have events lined up nearly every day.
“Nashville of the north,” Bohm said. “That’s my tagline.”
According to the National Weather Service, the high temperatures Friday and Saturday are expected to be in the high 70s.
Contact Jackie Smith at jssmith@gannett.com. Follow her on Twitter @Jackie20Smith. | https://www.thetimesherald.com/story/news/2022/05/10/st-clair-concert-series-riverview-plaza-get-early-start/9708793002/ | 2022-05-11T02:47:24Z |
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The Hawaii State Legislature passed several measures in their 2022 session that prioritize and steward Hawaii’s natural resources.
"The ten bills, and the budget adopted by the 2022 Legislature, will make meaningful changes to protect Hawaii's natural resources, from the top of Mauna Kea to our oceans, “ said District 7 Representative David A. Tarnas. “Safeguarding what makes Hawaii unique is critical for our residents and visitors, now and for generations to come”.
The bills passed include HB 2024, a $14 million sum that provides an alternative management framework for Mauna Kea, and will include Native Hawaiians in the management decisions for Mauna Kea, and provide support for astronomy that is consistent with a mutual stewardship paradigm in which ecology, the environment, natural resources, cultural practices, education, and science are in balance and synergy.
County authority has been expanded, to prioritize climate change and research areas, including:
HB 1436 expands the authority of counties to transfer development rights, to address areas at risk of sea level rise, coastal erosion, storm surge, or flooding associated with climate change.
HB 1672 authorizes counties to establish Special Improvement Districts for the purpose of environmental research, restoration, and maintenance; natural resource management; and natural hazard mitigation to improve environmental conditions and provide community benefits.
Other budget highlights relevant to the House Water and Land Committee:
- $500,000 in funding for DLNR for the Kahoʻolawe Island Reserve Commission;
- $8 million to DLNR for watershed protection projects statewide;
- Establishing and funding two new positions in the DLNR Na Ala Hele program to expand public access trails system statewide, and an additional $2 million for trail restoration;
- Establishing and funding 28 new positions in DLNR State Parks. Increasing the expenditure ceiling for the DLNR State Parks Special Fund by $12 million so that the park system can use revenues, primarily derived from non-resident visitor fees, for park maintenance and improvement;
- $300,000 and one new position to DLNR's hatchery program to provide fingerlings and limu for restoration and restocking of fishponds;
-$1.5 million for the Hawaii Invasive Species Council, and $500,000 for DLNR to control little fire ants.
Do you have a story idea? Email news tips to news@kitv.com | https://www.kitv.com/news/local/hawaii-lawmakers-pass-bills-to-protect-natural-resources-mitigate-climate-change-impacts/article_fca5b038-d0ce-11ec-8607-2754abc79b03.html | 2022-05-11T03:08:56Z |
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The Oregon Department of Agriculture is offering farmers loans of up to $150,000 that can be forgiven to help the agriculture industry recover from last year’s natural disasters.
The $40 million program, approved by the Legislature in December, applies to farm revenue throughout the year – not just in the immediate wake of a disaster. In 2021, the state endured hundreds of wildfires starting in May, including the Bootleg fire in southern Oregon which burned more than 340,000 acres.
Farmers also were hit with a deep freeze in February and a “heat dome” in the summer when temperatures soared to a statewide high of 119 in Jefferson County. The Legislature designated $5 million of the program for that county’s farmers.
Agriculture Department officials did not know how many owners would qualify. According to the department, Oregon had more than 37,000 farms and ranches last December.
Many of them have been hit by the continuing drought. But state officials said the program would not apply to income lost because of dry conditions.
The loans would be forgivable to owners who have not received federal disaster relief money, and are limited to $150,000. Applicants who meet the U.S. Department of Agriculture’s definition of a historically underserved producer or earn less than $350,000 in gross income a year are the only ones who would qualify for the highest amounts, state officials said.
Agriculture Department officials said they may conduct a second round of funding, depending on what remains after the first round. | https://www.heraldandnews.com/klamath/ag-offers-40m-for-disaster-relief/article_d40bb9d5-bd80-5a52-84ab-f23be4818df7.html | 2022-05-11T03:40:07Z |
CORVALLIS — Criminal background checks have delayed hemp planting approvals in Oregon because state farm regulators haven’t yet been able to fully access federal records.
To obtain hemp-growing licenses, farmers must now undergo criminal history checks as part of the Oregon Department of Agriculture’s new USDA-approved plan to regulate the crop.
However, the agency is still waiting for permission from the Federal Bureau of Investigation to tap into nationwide criminal records with the help of state police officials.
Oregon farm regulators had expected the FBI to approve the request after 4-5 months, before this year’s growing season began, said Lauren Henderson, ODA’s deputy director.
Instead, the process is still ongoing after about 9-10 months, which is now impeding farmers from getting their licenses and timely planting hemp, he said.
“That’s a big problem. We’re in a place where those who are trying to do the right thing are having a hard time doing the right thing,” Henderson said May 5 at the Oregon Board of Agriculture meeting in Corvallis, Ore.
State police officials have access to the federal criminal database, which can retrieve nationwide records based on personal information as well as fingerprints, but they must obtain the FBI’s permission to share it with the ODA, he said.
The delay has convinced the ODA not to wait for the FBI’s “gold standard” reports and to instead conduct state-level criminal background checks, he said. For federal data, the agency will rely on the USDA, which can access records but cannot run searches based on fingerprints.
“Given the urgency for growers to plant, the ODA can no longer wait for full FBI approval,” Henderson said.
Criminal background checks were not required for state hemp licenses before 2022 because the ODA was operating under an earlier federal program in which hemp was grown for research purposes.
The 2018 Farm Bill legalized hemp at the national level but required that state governments get their regulatory plans approved by the USDA. Oregon’s plan, which includes the felony background checks, was cleared earlier this year.
It took repeated attempts for state lawmakers to grant ODA the full authority to carry out the USDA-approved hemp plan, which prevented the agency from seeking the FBI’s help earlier, Henderson said.
However, the problem likely isn’t limited to Oregon, he said. “We understand this is not a unique delay.”
There are currently about 300 farmers waiting for hemp licenses, which may not be enough to justify the full 12 hemp program positions authorized by the Legislature, said Mike Odenthal, the program’s manager.
Under a new state law, Douglas, Jackson and Josephine counties have opted to impose a two-year moratorium on new hemp licenses, which means 27 licenses will automatically be denied this year.
The moratorium is intended to improve enforcement so that hemp isn’t used as camouflage for illicit marijuana, a related cannabis crop with psychoactive properties.
Some hemp farmers formed new limited liability companies each year to grow the crop, but they can’t in those three counties because new licenses won’t be available, Odenthal said.
The ODA is planning to roll out heightened hemp inspections across the state this year to check for presumptive marijuana, expanding on an operation that focused on Southern Oregon last year, he said.
Most of the farmers whose crops tested positive for presumptive marijuana haven’t tried renewing their hemp licenses this year, Odenthal said. “Should they reapply, they will be denied.” | https://www.heraldandnews.com/klamath/criminal-background-checks-impede-oregon-hemp-planting/article_730c0cda-84ee-52d4-b2dd-2b692433445d.html | 2022-05-11T03:40:13Z |
Retiring Klamath Tribes Chairman Don Gentry said he got his first guitar when he was 10 years old. In retirement, he hopes to complete a Native-influenced album.
He’s firm, sincere and quietly aggressive when he talks about matters and controversies involving the Klamath Tribes, but another brighter persona is exposed when he talks about music.
“I got my first guitar when I was 10 years old,” he said with obvious joy.
That led to being in a high school cover band and playing at weddings, proms, dances, wherever, mostly as a guitarist. He also performs as a native flutist and, often, percussionist. Gentry plays classic and country rock – “I can rock with the best of them,” he boasts — and also writes and performs faith-based music.
“I consider myself more of a backup musician,” he says, explaining he plays electric and acoustic guitars along with hand drums, flutes and other instruments. It takes little encouragement to have Gentry pull out his classic Fender guitar.
Over the decades he’s traveled the up and down the West Coast and as far away as Mississippi with various bands and noted musicians, including Bill Miller, a Native American performer, songwriter and native flute player who has produced more than a dozen albums and won many awards, including three Grammys.
Because of his deep involvement with tribal affairs, Gentry has some unfinished business – completing a Native-influenced album that will feature acoustic guitar and songs like one he wrote, “On This Mountain,” which includes words sung in the Klamath language.
“I’m looking forward to having more time with music.” | https://www.heraldandnews.com/klamath/gentry-hopes-to-devote-more-time-to-music-in-retirement/article_468af002-fc6c-52a1-a624-872d0c33fb92.html | 2022-05-11T03:40:19Z |
Hundreds of thousands of students have either dropped out of college or turned away from pursuing a college degree. The reasons are endless — the turmoil caused by the coronavirus pandemic, the lure of today’s job market, family members having to take a step back and care for parents or children, and a lack of affordable childcare for non-traditional students.
Perhaps more than any other concern is the cost of a college degree in the United States. Student loan debt in the United States totals $1.747 trillion, according to the Education Data Initiative, and in 2021, 43.2 million student borrowers were in debt by an average of $39,351 each.
Colleges across the United States are facing major challenges. Student enrollment dropped more than 5% since 2019. Undergraduate enrollment in 2021 dropped 3.1%, or by 465,300 students, compared to a year earlier.
What used to be a no-brainer — go to college to get a degree to get a well-paying job — is being questioned. For the first time in a very long period, more students are questioning the value of a college degree, or whether they will ever be able to make enough money to pay off their college loan debt to see a return on their investment.
A recent study by the National Student Clearinghouse Research Center found a decline in enrollment and issues in several states since the fall of 2021. In Pennsylvania, public university enrollment fell 12% and community college enrollment plunged 23%. In 24 states, the number of public university students declined at least 4% from fall 2019 to fall 2021.
Another worrisome sign signaling declines in enrollment for the 2022-2023 school year is the Free Application for Federal Student Aid, or FAFSA, filings. Overall, they are down 9%, according to Department of Education data gleaned by the National College Attainment Network. And FAFSA renewals have fallen 12%.
Receiving a degree itself is no longer sufficient to enroll in college when so many are facing ballooning student loan debt. Students need to know exactly what competencies and skills they will gain and be able to offer the work world when they graduate.
Tracking students’ skills must be at the forefront of priorities throughout higher education. Throughout a student’s academic journey, he or she will build various skills inside and outside the classroom.
For instance, a college student who is president of a sorority or fraternity will learn how to be a leader for hundreds of their peers. A liberal arts major who has to take a science course might not understand why, but by tracking skills the student can understand how the course helped build skills in problem solving, critical thinking and collaboration, all while learning about photosynthesis.
And finally, a student with an on-campus part-time job may benefit from developing strong interpersonal skills while learning how to master time management and self-discipline, and how to juggle multiple priorities.
Many graduates enter the workforce unprepared for how to verify the skills and knowledge they acquired during their academic journey. To date, there is no easy way to measure and keep track of these skills, beyond a resume. But for those who lack the pedigree of a degree from a high-ranking university or who weren’t able to work an unpaid internship while working to pay for college, there needs to be a better way to demonstrate knowledge beyond a GPA.
We need to give students a way to track their skills and learning experiences to enter the workforce with concrete evidence of their obtained skills. Economic mobility should be based on what you know and can do, rather than traditional proxies for talent such as pedigree, degrees and networks. The only way we can achieve this is to track competencies and skills throughout the education journey and use them as the currency of the labor and talent market.
These records, which can be called “comprehensive learner records” or “learner and employment records,” can be used to capture skills and credentials from many sources, such as traditional and non-traditional education, groups, training providers, employers, military and even mentors or self-assertions.
Newer technologies such as blockchain and interoperable data systems that allow for authentic and secure sharing of these records will enable the millions of hidden capable workers the chance at upward mobility — and help colleges reclaim the value of their degree programs for those students who have either walked away from college or started to question whether they will see the return on their investment.
Twenty-first century skills are difficult for universities to quantify and track. Higher ed institutions and employers must work together to incorporate learner and employment records and use secure data systems to help ensure all students gain proof of their knowledge beyond a degree.
Guillermo Elizondo is co-founder and CEO of Territorium, a leader in education technology. He wrote this for InsideSources.com. | https://www.heraldandnews.com/klamath/higher-ed-is-at-a-turning-point/article_ffd024e1-3116-5223-bbf4-052738de6d61.html | 2022-05-11T03:40:25Z |
After spending more than three decades involved in Klamath Tribes matters, including the past nine years as chairman of the Klamath Tribes Council, Don Gentry is planning a lower profile.
Gentry, 67, who did not seek re-election as tribal chair, is turning over those duties to Clayton Dumont Jr., who was elected last month.
“It has been my great honor to watch and learn from Chairman Gentry. His are some big shoes, and it will take all the effort and skill our incoming Tribal Council can muster to live up to the example that he has set for us,” Dumont said. “During these last three years serving under Chairman Gentry, I never once saw him act out of self-interest; always, without fail, he has thought first about our people. I never saw him lose his composure. Even in the most tense interactions, sometimes with much at stake for the Klamath Tribes, he has been careful and deliberate. He is a cherished mentor, and his number will stay at the top of my speed dial.”
Before becoming tribal chairman, Gentry served as vice chairman. But his involvement includes years as the Tribes’ natural resources specialist. He said he believes that background, along with lifelong interests as a hunter and fisherman, has provided him with a perspective that has made him a sometimes controversial advocate for tribal treaty rights, including ongoing disputes involving water issues.
“I have a lot of hands-on experience,” said Gentry, noting he also worked for the Forest Service and private contractors. With the Tribes, he was involved in fish hatchery research, studying water flow measurements, tracking deer and other projects.
Gentry said his involvement reflects the interest his father, Gene, had in tribal affairs, including serving on the tribal council and participating in court cases about tribal treaty rights. Importantly, too, he said, “Dad had us out hunting and fishing,” adding with a laugh, “being Indians you might say.”
Born in Klamath Falls, Gentry has lived in the Klamath Basin except for a period when his mother, Darlene, a non-native, lived in northern California’s Mendocino County. He returned in 1969 to live with his father, a Klamath-Modoc.
“It was time,” he said of retiring from tribal leadership, explaining he and his wife of nearly 48 years, Mary, a Warm Springs Indian, “want to focus on family matters.” The couple has three children, Alicia, Aaron and Adria, who all live and work in the Klamath Basin, along with 10 grandchildren and five great-grandchildren.
Gentry said he believes his time as tribal chairman has been successful.
“It was a team effort. I consider myself a servant leader,” he said. “I’m a pretty good spokesman for our people but it’s a team effort, working as a team with the tribal council and our staff.”
Incoming Klamath Tribes treasurer Brandi Hatcher said it’s a bittersweet time.
“Don is a very compassionate person, and very professional and keeps his demeanor in the most difficult of situations. It has been a pleasure working with him, even though we can all agree to disagree, and support the complex issues we have to deal with, we can always leave at the end of the day, with a smile, and no hard feelings,” she said. “The past Tribal Council has been able to navigate through a worldwide pandemic, a tremendous loss of Tribal members and trying to help others in need, and stay the difficult course fighting for our treaty resources. We have all suffered the COVID-19 and Zoom fatigue; but have managed to keep a sense of humor, through teasing and laughing at each other. These are the best times for me to remember. I pray for the best for Don and his wife on their next journey through retirement.”
As tribal chairman, Gentry has been the Tribes’ main spokesman and advocate for always controversial water-related matters. He is a staunch defender of tribal treaty rights, noting the Tribes ceded nearly 20 million acres in the 1864 treaty.
“It was a government-to-government negotiation,” he said of the treaty, one that has been confirmed by a series of court cases. “We never gave up on adjudication, noting the Tribes supported the proposed (KBRA) Klamath Basin Restoration Agreement that would have led to removal of dams on the Klamath River and settled several water rights issues. But he dismisses any chance for a second KBRA “because we need that water for our resources.”
Gentry believes some people feel “we’re retaliating,” insisting, “We’re trying to protect our treaty rights. There’s limited water. Past management has set us up for these problems … We are trying to protect the holistic rights of our people.” Likewise, he believes increased demands for water for agriculture combined with increased populations and such “unintended consequences” as climate change, overgrazing and dams that prevent salmon from reaching the Klamath Basin are factors behind the ongoing, often bitterly heated disputes.
“People look at us (the Klamaths and other tribes) and think we’re the problem,” he said in obvious frustration.
“I’m looking forward to a lot less stress,” he admitted of being involved in tribal leadership, adding, “I’ll be active with the general council … I’m still here. This is my home. Until I die, I’ll be out there doing whatever I can.” | https://www.heraldandnews.com/klamath/klamath-tribes-chairman-don-gentry-retires/article_bd6e66a5-401a-5e81-98c1-7ab9a9d8878a.html | 2022-05-11T03:40:32Z |
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The National Association of Intercollegiate Athletics announced the 40-team field for the softball national championships Tuesday, including the three teams which will head to the Klamath Basin for the upcoming Klamath Falls opening-round bracket.
Oregon Tech will welcome Cottey (Mo.), meeting the Comets (30-15) at 2:30 p.m. Monday – the second game of the day at Stilwell Stadium. William Jessup (Calif.) and Rio Grande (Ohio) will meet in the tournament opener at noon. The tournament winner will receive a bid to the NAIA Softball World Series in Columbus, Ga.
Cottey, from Nevada, Missouri, enters the tournament as the runners-up in the Continental Athletic Conference tournament and are paced by the tandem of outfielder Caitlyn Morgan (.333-10 HRs-38 RBIs) and second baseman Aryana Palencia (.391-9 HRs-45 RBIs). It is the second straight year Cottey has qualified for the opening round and the second straight year the two teams will meet in the opening round – OIT defeated the Comets 4-0 at the Reinhardt opening-round bracket in 2021.
William Jessup makes the short trip from Rocklin, Calif., earning the No. 2 seed in the bracket in their NAIA Tournament debut, after winning the Golden State Athletic Conference title. The Warriors (36-13) are led offensively by third-baseman Sam Lorge (.314-10 HRs-41 RBIs) and outfielder Maddy Ybarra (.349-8 HRs-29 RBIs), along with pitcher Katie Blankenheim (19-4, 2.07 ERA). OIT and WJU met four times in the preseason, with Jessup winning two games to open the season, while the Owls earned consecutive wins in mid-February.
Rio Grande, from Rio Grande, Ohio, makes the 2,400-mile trek as the regular-season champions of the Rivers State Conference. The Red Storm (39-13) are paced by Caitlyn Brisker (.392-8 HRs-44 RBIs) and Zoe Doll (.370-9 HRs 51 RBIs), with Sydney Campolo (15-2, 2.57 ERA) Rio’s top pitcher. It marks the seventh trip to the NAIA Championships for the Red Storm.
Top-seeded Oregon Tech is making its 11th trip to the NAIA Championships – including their eighth trip in a row. The Lady Owls (46-10) are hosting the opening round for the second time – having won the Klamath Falls Bracket in 2015.
Four Cascade Conference teams qualified for the tournament – as Southern Oregon will host an opening-round site in Medford; College of Idaho will travel to the Chickasha Bracket in Oklahoma; and Eastern Oregon will compete in the Oklahoma City Bracket.
All games in the Klamath Falls opening-round bracket will be broadcast live on Oregon Tech’s StretchLive Portal. In addition, all games will be carried on radio in the Klamath Basin on 104.3 and 960 Sports. | https://www.heraldandnews.com/klamath/oit-to-play-host-to-cottey-rio-grande-and-william-jessup-in-opening-round-of/article_867ac31a-849b-53bc-8510-4b0450af1e1e.html | 2022-05-11T03:40:44Z |
Don Gentry, who is retiring after nine years as chairman of the Klamath Tribes, agreed to answer a series of questions related to tribal matters. The questions, and his responses, follow:
Q: What are you most proud of during your time leading the Tribes?
A: I believe I was able to effectively represent the perspectives, interests, values and goals of our people to those outside our community. This has promoted a better understanding of who we are in the local community, region and nation, and has made it more difficult to continually marginalize us as a people.
Q: If you had a do-over, what things would you do differently?
A: I have often heard through the years that people consider me to be a nice guy — perhaps too nice to be a strong leader for our people. I believe there are times that I should have been more direct in my communications and actions.
Q: What are your concerns about the Tribes’ future?
A: Up until recent decades, our history has been that of continual loss while others have gained at the expense of our interests, resources and the holistic health of our people. Since our successes in the Kimball v. Callahan and the Adair treaty rights cases, and legislation of the Klamath Restoration Act in an attempt to right the injustices of the Termination Act, we have accomplished much. One of the intentions of the Restoration Act was for Congress to restore a significant land base to the Klamath Tribes to provide opportunity for sustainable economic self-sufficiency. This has not occurred. Because, out of necessity to protect and provide for our treaty fisheries and health of the ecosystem, we have taken a strong position in protecting our water and treaty rights which contributes to division in our community. Because of this, it has been difficult to obtain local political support for federal legislation for land return to the Klamath Tribes. We are also very concerned about the potential loss of our endangered C’waam and Koptu (Lost River and shortnose suckers). If they become extinct, they will be gone forever.
Q: What does the next generation of tribal leaders need to know/remember/understand?
A: I believe we have a good understanding of our history, culture and standing as a Tribe with inalienable, inherent rights stemming from being the first people of our lands. We understand that our rights are secured through a treaty with the United States and that the federal government has the obligation and responsibility to protect and honor them. We know that it has been, and will continue to be, a constant and difficult battle to get the federal government to fulfill its obligations to us. To be successful, we must rely on our legal standing, cultural values and traditions, understand our strengths and weaknesses, and the strengths and weaknesses of our adversaries and those that support us, know the legal and political landscape, and be prepared to use all the tools available to us to achieve our goals.
Q: Can the water issue ever be resolved?
A: The water issue is obviously complex. I believe significant progress can be made if it is acknowledged that the Klamath Tribes, our treaty rights, and concern for the recovery, protection and sustainability of our treaty resources are not the problem. We must identify and address the problems created by past forest and agricultural management in the Klamath Basin watershed that have adversely affected water quantity and quality. There are unforeseen and unintended consequences that are a result of the significant changes in the landscape that have occurred over the last 100-plus years. Significant forest, stream and wetland restoration must occur at a landscape level. Irrigated agriculture must be reduced to a sustainable level based on what is available beyond what is necessary to provide for the health of the ecosystem. All this must be addressed in the context of climate change. I am optimistic that we can accomplish much if we, as a community, are collectively focused on the real problem and solutions.
Lee Juillerat | https://www.heraldandnews.com/klamath/q-a-with-retiring-klamath-tribes-chairman-don-gentry/article_1ce51654-f23a-5621-b09b-543f992ba0da.html | 2022-05-11T03:40:50Z |
The state of Oregon won’t keep fighting to enforce a first-in-the-nation ban on real estate “love letters” and will pay a Bend real estate group more than $60,000, according to a draft settlement filed in a federal court in Portland.
Chief U.S. District Judge Marco Hernández in March temporarily blocked the enforcement of Oregon’s 2021 ban on Realtors passing messages from buyers to sellers, reasoning that it likely interfered with free speech rights. Hernández still needs to sign off on a draft agreement from attorneys for the state and Bend-based Total Real Estate Group that would permanently end enforcement of the 2021 law.
As part of the draft agreement filed with the court Friday, state attorneys acknowledge that the 2021 law violated the First Amendment of the U.S. Constitution. Steve Strode, the state real estate commissioner, must post a notice online for a year noting that the commission will not enforce the 2021 law.
The state also agreed to pay Total Real Estate about $62,000 in attorney fees and court costs.
Rep. Mark Meek, a Gladstone Democrat and Realtor who sponsored the now-unenforceable law, told the Capital Chronicle he was disappointed in the ruling and intends to try again to address what he sees as an underlying issue with real estate love letters perpetuating housing discrimination. Meek and other skeptics of the practice believe the use of these letters results in sellers choosing buyers who share their race, religion or family makeup.
Meek, who is now running for the state Senate, said he hopes to find language that balances free speech rights with preventing violations of federal and state laws that prohibit discriminating against home buyers on the basis of race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income.
“We’re gonna go back to the drawing board and make sure we get it all correct,” he said. “Definitely the underlying purpose there is necessary, and so we just have to figure out how to navigate that.” | https://www.heraldandnews.com/klamath/state-bend-real-estate-group-reach-settlement-on-love-letter-ban/article_74695173-7a75-595d-aad6-be7445f60f1f.html | 2022-05-11T03:40:56Z |
Everyone’s on the lookout for their next clever party anecdote for that awkward pause between the cheese course and dessert (I know I am). The perfect quip at the perfect time will make you feel like a million bucks in the tuxedo people are now assuming you own. If you memorize today’s grammar gem, you’re guaranteed to be the hero at the next soiree or gala you attend.
Do you remember the mnemonic device from math that goes “Please excuse my dear Aunt Sally?” This helps you remember the order of operations in a math equation (parentheses, exponents, multiplication, division, addition, subtraction). In English, there’s an equivalent, but largely unknown “order of operations” for the order in which adjectives go in front of a noun. Even more shocking is that this rule is taught to most non-native speakers, but native speakers are never taught it. The order is quantity, opinion, size, physical quality, shape, age, color, origin, material, type, purpose, noun.
We are never formally taught this adjective order, but we know that “five wrinkly octogenarian bronze Italian sunbathers” sounds correct (albeit an odd scenario), but if you say “octogenarian five Italian wrinkly bronze sunbathers,” you sound like a total weirdo. You don’t know how you know that’s wrong; you just know it.
Let’s try it with some simpler phrases. You’d never say “old little lady”; you would always say “little old lady.” Likewise, “blue suede shoes” sounds right, but you would never say “suede blue shoes.” You’ve probably heard someone remark about their baby’s “big brown eyes,” but if that same parent went on about their baby’s “brown big eyes” you’d think something was wrong with them. Try saying these phrases out loud and you’ll hear how truly ridiculous adjectives in the wrong order sound to your English-preferring ears.
And, while I don’t have a clever mnemonic device for adjective order, it’s something you should feel privileged not to know—unless, that is, you want to be the talk of your town’s small secretive Sicilian social circle.
Curtis Honeycutt is a syndicated humor columnist. He is the author of Good Grammar is the Life of the Party: Tips for a Wildly Successful Life. Find more at curtishoneycutt.com. | https://www.heraldandnews.com/klamath/the-mysterious-order-of-the-adjectives/article_894794a1-ab2e-51b9-81b7-276ef2facd3f.html | 2022-05-11T03:41:03Z |
Marriage is an excellent teacher on life – on how to live it and survive it and share it with someone you love.
And a wedding anniversary is a perfect occasion to look back and celebrate the times, good and bad, you have weathered together, and all the things you have learned along the way.
My husband and I will soon celebrate 17 years of marriage. I’m happy to say we’re still hoping for at least 17 more.
I was also married for 30 years before losing my first husband to cancer. Nearly 50 years of marriage doesn’t make me an expert. But it has taught me a few things. And like all the women in my family, I’m happy to share what I’ve learned.
Here’s a freshly updated list I collected years ago (with much appreciated help from readers) of tips on how to stay married.
1: Listen to each other. Seek first to understand before trying to be understood. When you are wrong, say you are sorry. When you are right, shut up.
2: Don’t tie a half-hitch knot. Plan to stay married forever.
3: Never go to sleep angry. Keep talking until you get over it or forget why you were mad.
4: Laugh together. If you can laugh at yourself, it’ll be easy.
5: Never embarrass, criticize or correct one another in public; try not to do it in private either.
6: Remember one of life’s ironies: We are least lovable when we need love most.
7: Don’t expect perfection. It doesn’t exist. If it did, it would bore you spitless.
8: On days when you don’t like each other, try to remember that you love each other. Pray for the "good days" to come again, then act as if they have.
9: Tell the truth, only the truth, and always with great kindness.
10: Kiss for at least 10 seconds everyday without fail; do it all at once or spread it out.
11: Examine your relationship often. Know its strengths and vulnerabilities. Keep moving in the direction you want it to go.
12: Be content with what you have materially, honest about where you are emotionally, and never stop growing spiritually.
13: To love someone is to wish them the best; always wish each other nothing but the very best.
14: Never yell unless the house is on fire. Speak softly when you argue. Whisper when you fight. Keep it fair and show some class. Hurtful words can be forgiven, but they can never be forgotten, or taken back.
15: Be both friends and lovers. Friendship is the oil that keeps you moving in the same direction. Love is the glue that holds you together.
16: Show by your actions as well as your words that the person you married comes first in your life. Let nothing and no one ever come between you.
17: Remember that you’re in love. Kiss in elevators. Hold hands in movies. Lock eyes across a crowded room. Say “You are beautiful and I love you” at least once a day. Then say it again every night.
18: Never miss an anniversary, a birthday or a chance to make a memory. Memories may not seem important now, but one day you will treasure them.
19: Take care of business. Pay your bills, change your oil, cut your grass, call your mother.
20: Open your home and your hearts to angels unaware. Teach Sunday school. Coach Little League. Feed the homeless. Talk to strangers. Pick up trash. Make something beautiful of your life together.
Finally, here’s the best advice I’ve ever heard or offered: Do what you want. Lead your own life. Follow your own calling. Be an interesting person, each of you on your own. But always save your best for each other.
And in the end, you will know you were better together than you ever could’ve been apart.
Happy anniversary. Here’s wishing you many more years to celebrate life together.
Sharon Randall is the author of “The World and Then Some.” She can be reached at P.O. Box 922, Carmel Valley CA 93924 or www.sharonrandall.com. | https://www.heraldandnews.com/klamath/tips-on-how-to-stay-happily-married/article_c66ea058-1793-5339-ba8b-4a1584057ffc.html | 2022-05-11T03:41:09Z |
The image from video provided by the Department of Defense labelled Gimbal, from 2015, an unexplained object is seen at center as it is tracked as it soars high along the clouds, traveling against the wind. “There's a whole fleet of them,” one naval aviator tells another, though only one indistinct object is shown. “It's rotating." The U.S. government has been taking a hard look at unidentified flying objects, under orders from Congress, and a report summarizing what officials know is expected to come out in June 2021. (Department of Defense via AP)
A congressional panel will hold a hearing later this month on UFOs.
The House Intelligence Subcommittee on Counterterrorism, Counterintelligence and Counterproliferation will hold a hearing on “Unidentified Aerial Phenomena” on May 17.
Some of the hearing will be open, according to the U.S. panel. It is the first public hearing by a committee or subcommittee of Congress focused on UFOs since 1970.
The House Intelligence subcommittee’s hearing comes after a Pentagon report in 2021 acknowledged 143 incidents involving the U.S. military and unidentified flying objects since 2004.
The U.S. government, intelligence agencies and military have long been secretive about UFOs and the potential for alien life. | https://www.heraldandnews.com/news/congressional-panel-to-hold-ufo-hearing/article_d75b6a34-cc4f-5105-816c-2d51e2ddaab9.html | 2022-05-11T03:41:15Z |
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Gas prices hit all-time record highs Tuesday nationally as well as in Oregon, Washington and Idaho.
Much of California is seeing gas prices of $6 per gallon or more.
AAA’s Fuel Gauge Report reports the average price of gasoline nationally is $4.37 per gallon on May 10. That is an all-time record.
In Oregon, the average price of gas stands at $4.85 per gallon — a record high. Statewide gas prices are up $1.51 per gallon from a year ago.
Diesel prices also set fresh record highs on Tuesday averaging $5.55 per gallon nationally, $5.60 in Oregon, $6.51 in California and $5.71 in Washington, according to AAA.
Across the region, drivers and businesses saw fuel prices hit record levels in Redding ($5.73 per gallon), Medford/Ashland ($4.91), Grants Pass ($5.04 per gallon) and Bend ($4.86), according to AAA.
GasBuddy — another bellwether tracker of fuel prices — also said Tuesday that U.S. gas prices are at record levels.GasBuddy reports U.S. gas prices averaging $4.36 per gallon on Tuesday. That surpassed the previous all-time record of $4.35 per gallon set in March.
Gas prices are up 15 cents per gallon over the last seven days, according to GasBuddy’s fuel data.
“Liquid fuels have turned into liquid gold, with prices for gasoline and diesel spiraling out of control with little power to harness them as the imbalance between supply and demand globally continues to widen with each passing day. Russia’s oil increasingly remains out of the market, crimping supply while demand rebounds ahead of the summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan doesn’t expect the economic situation to improve any time soon.
“There’s little, if any, good news about fuel prices heading into summer, and the problem could become worse should we see an above average hurricane season, which could knock out refinery capacity at a time we badly need it as refined product inventories continue to plummet,” he said.
AAA reports gas prices are up $1.41 per gallon nationally past 12 months. Washington and Idaho also posted record high gas prices Tuesday ($4.87 and $4.84 per gallon, respectively).
Fuel prices were up in the latter part of 2021 and early 2022. Their rise has been further hastened by the Russia war in Ukraine and corresponding U.S. and NATO sanctions restricting oil exports from Moscow. Crude oil prices have been trading near or above $100 per barrel up from the $68 range a year ago.
Inflation, including higher energy costs, continues to take center stage for consumers as well as the coming midterm elections.
Republicans are criticizing President Joe Biden’s economic stewardship when it comes to inflation which is at its highest rate in more than 40 years. They are pressing the U.S. administration to open more domestic oil drilling after reversing some Trump administration energy policies.
“Gas prices have hit a new record high. This administration is crushing Americans at the pump,” said U.S. Rep. Cliff Bentz, R-Oregon.
Biden outlined some steps the White House wants taken to help ease high inflation including release oil reserves in response to rocketing fuel prices and promises to go after price gougers as the U.S. economy deals with rationing of baby formula and high prices for fertilizers and other commodities.
However, many of those proposals outlined by Biden Tuesday are long-term agenda items such as renewable energy tax credits and broader calls for lower costs of child care and lower prescription drug costs.
Biden also focused his inflation message on criticizing a GOP plan from U.S. Sen. Rick Scott, R-Fla, that would eliminate tax credits and exemptions for the poor and create sunsets for federal programs requiring their renewal.
Biden and Democrats point to that as potentially adversely impacting Social Security, Medicaid and Medicare. Biden argues it is part of an “ultra-MAGA” agenda referencing former President Donald Trump’s Make America Great Again campaign slogan.
“This is not your father’s Republican Party. This is a MAGA party. This is the MAGA party,” Biden said during remarks Monday night in Maryland.
Scott, whose plan has not been endorsed by GOP Senate leadership, hit back at Biden Tuesday.
“Joe Biden has zero ideas to fix the inflation crisis he’s created. He just hides in the White House, blames others and lies,” Scott said in a statement.
The U.S. Bureau of Labor Statistics is scheduled to release new inflation numbers Wednesday. March numbers showed inflation was up 8.5% compared to a year ago — the highest since 1981.
Energy costs are up 32% and groceries are up 10% as consumers feel inflation’s pinch. | https://www.heraldandnews.com/news/local_news/new-record-highs-for-gasoline-prices-as-inflation-confronts-consumers-biden/article_e5523345-ddd8-5ec0-bd0d-d26045c9f577.html | 2022-05-11T03:41:27Z |
2-year-old dies after falling into septic tank, coroner says
GAFFNEY, S.C. (WHNS/Gray News) – A toddler died Tuesday after he fell into a septic tank in South Carolina, officials said.
Dispatchers received a call at 11 a.m. for a child that was stuck in a septic tank in Gaffney, along the state’s northern border.
The Cherokee County Coroner’s Office said 2-year-old Hawkins Abercrombie of New York died after he was rushed to the hospital.
Hawkins was visiting friends in South Carolina with his mother and two siblings. The coroner said his mom noticed he was missing, and during a search of the home, they found the lid on the septic tank upside down.
Hawkins’ pacifier was floating in the water when they removed the lid.
The boy was recovered from the septic tank and CPR was started, but he was pronounced dead at Cherokee Medical Center.
“This is such a tragic event,” coroner Dennis Fowler said. “This family needs our prayers.”
The incident remains under investigation.
Copyright 2022 WHNS via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/10/2-year-old-dies-after-falling-into-septic-tank-coroner-says/ | 2022-05-11T03:51:28Z |
50 years later: families honor 34 soldiers killed in Vietnam chopper crash
Loved ones flocked to the Vietnam War memorial to commemorate the anniversary Tuesday.
WASHINGTON (Gray DC) - Tuesday marks 50 years since a helicopter carrying 34 American soldiers crashed in Vietnam, killing everyone on board. This made 34 families instant members of the Gold Star organization for families of the fallen.
Roy Adams was part of the battalion, and the last person to see any of them alive. He’s a member of the Angry Skipper Association, a group of veterans who were part of in D Company, 2nd Battalion, 8th Cavalry, 1stCavalry (airmobile) Division from 1965 - 1972.
“My true friends are on that wall,” said Adams, “They’ll always be my friends.”
For children of the victims, like Sherry Elenburg who was just a baby when her father Alvin died, hearing stories from those who knew him in war help paint a picture of the man she never got to know.
“He had an infectious laugh,” said Elenburg. “He was loud. Well, we’ve always questioned why we’re so loud.”
The day featured bell tolling for the 34, a color guard, and wreath-laying ceremony.
Chris Harrell was left to raise small children by herself after her husband was killed.
Tuesday, she tells us she feels a sense of community and a closeness to the man she loved.
Her husband, Samuel, piloted the ill-fated flight, which was later determined to have crashed due to a mechanical error.
“He was a man with a huge heart,” said Harrell. “He had not much to say, but when he said something, it meant everything.”
According to the National Park Service, these men are 34 of 58,318 names at the Vietnam War Memorial.
Copyright 2022 Gray DC. All rights reserved. | https://www.wvva.com/2022/05/10/50-year-later-families-honor-34-soldiers-killed-vietnam-chopper-crash/ | 2022-05-11T03:51:35Z |
Another cool and dry night ahead, and another warm & sunny day to follow
High pressure remains in control for now
High pressure will remain in control of our weather pattern into tonight and tomorrow, keeping us dry. Tonight, after sundown, we’ll start to cool off. Low temps will eventually drop into the 40s overnight, and we should stay mainly clear through the overnight hours.
Wednesday will bring yet again more sunshine, and comfortable high temps (slightly above average in most places), topping off in the mid-70s to low 80s. We should have still low humidity and only a few patchy high clouds at best from time to time. Wednesday night will be mainly clear and cool again with lows in the mid-40s to low 50s.
The weather will be on repeat once again as we head into Thursday. We’ll see a bit more high cloud cover develop, but should stay rain-free. Highs will again be warm, in the mid-70s to low 80s Thursday afternoon.
Low pressure will start to slide in and influence our weather pattern by the end of the workweek. We’ll already feel a bit more humidity by Thursday night, and low temps early Friday won’t be as cool, in the 50s. Friday will bring a mix of sun and clouds, cooler high temps in the upper 60s and low 70s, and the chance for a few scattered showers here & there throughout the day.
Rain chances will then increase into the weekend, and we are looking rather unsettled Saturday and Sunday with highs in the 60s and 70s and scattered showers and thunderstorms.
Stay tuned!
BLUEFIELD, W.Va. (WVVA) -
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/05/10/another-cool-dry-night-ahead-another-warm-sunny-day-follow/ | 2022-05-11T03:51:42Z |
Assata Shakur accomplice gets parole in trooper’s 1973 death
(AP) – A split New Jersey Supreme Court granted parole Tuesday to a former militant convicted in the 1973 death of a New Jersey state trooper, in a case that has resonated for decades and been a thorny issue in U.S.-Cuba relations.
Sundiata Acoli is in his mid-80s, and several parole bids were previously rejected. His attorneys argued he’s been a model prisoner for nearly three decades and has counseled other inmates.
The state parole board contended Acoli is still a risk to commit future crimes and hasn’t taken full responsibility for Trooper Werner Foerster’s death.
Acoli’s more-famous co-defendant, Joanne Chesimard, was convicted and sentenced to a life term but escaped from a New Jersey prison in 1979. Now known as Assata Shakur, she was given asylum in Cuba by then-President Fidel Castro and remains a fugitive.
In a tweet Tuesday, Patrick Colligan, head of the New Jersey State Policemen’s Benevolent Association, called the ruling an “outrage” and “a slap in the face to every officer.”
In Tuesday’s 3-2 ruling with Chief Justice Stuart Rabner not participating, the court held that the state parole board didn’t meet its required burden of demonstrating there was a substantial likelihood of Acoli committing another crime.
“No member of the Court disputes that Acoli committed a horrific crime,” Justice Barry Albin wrote for the majority. “The issue, however is whether Acoli, after nearly five decades of imprisonment, has satisfied the statutory demands that govern his parole eligibility.”
Albin noted that if the crime had occurred today, Acoli would have been sentenced to life without the possibility of parole, but that New Jersey law at the time allowed for parole.
“However despised Acoli may be in the eyes of many because of the notoriety of his crime, he too is entitled to the protection of the law — and to the fair and impartial administration of justice,” Albin wrote.
In a statement, New Jersey Gov. Phil Murphy said he was “deeply disappointed” by the ruling. State Attorney General Matthew Platkin said in a statement, “I am grateful to the attorneys in my office who opposed the release of Sundiata Acoli and I am disappointed that he will be released on parole.”
Bruce Afran, an attorney who has argued on Acoli’s behalf for more than a decade, praised the ruling.
“After 50 years of imprisonment, the Supreme Court has brought an end to a tragic episode from the civil rights era and recognized that we have to be humane in our parole process and not practice vengeance,” Afran said. “The court said today that the parole board has to follow the rule of law and cannot deny parole unless it can prove that an inmate is a threat to society.”
Acoli was known as Clark Edward Squire in 1973 when the car he was riding in was stopped on the New Jersey Turnpike for a broken tail light. According to court documents, Acoli’s gun went off during a struggle with Foerster, who had responded as backup.
The state contended Shakur shot Trooper James Harper, wounding him, then took Foerster’s gun and shot him twice in the head as he lay on the ground. A third person in the car with Acoli and Shakur died from his injuries at the scene. The three were members of a group known as the Black Liberation Army.
Acoli has claimed he was grazed by a bullet and blacked out, and couldn’t remember the exact sequence of events. At his most recent parole hearing, in 2016, he speculated for the first time that Foerster could have been shot accidentally by Harper.
In a dissenting opinion, Justices Lee Solomon and Anne Patterson wrote that the parole board’s decision was supported by the evidence and should be left undisturbed.
“Our only role is to ensure that the Parole Board does not abuse its discretion in making decisions,” Solomon wrote. “In light of the Board’s evident consideration of the record as a whole, we cannot say we are in a better position than the Parole Board to decide Acoli’s fate.”
Foerster’s death and Shakur’s continued fugitive status have resonated over the years and spurred bipartisan agreement in Congress.
In 2013, state and federal authorities announced a $2 million reward for information leading to her capture, and the FBI made her the first woman on its list of most wanted terrorists.
Then-President Donald Trump demanded that Cuba return her in 2017 when he announced plans to reverse some Obama administration Cuba policies, an approach that was hailed in New Jersey by Democratic Sen. Bob Menendez and then-Republican Gov. Chris Christie.
In 2005, Castro referred to Shakur as a victim of “the fierce repression against the Black movement in the United States” and said she had been “a true political prisoner.”
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/10/assata-shakur-accomplice-gets-parole-troopers-1973-death/ | 2022-05-11T03:51:48Z |
Bill Gates says he has COVID, experiencing mild symptoms
SEATTLE (AP) — Microsoft co-founder Bill Gates said Tuesday he has tested positive for COVID-19 and is experiencing mild symptoms.
Via Twitter, the billionaire philanthropist said he will isolate until he is again healthy.
“I’m fortunate to be vaccinated and boosted and have access to testing and great medical care,” Gates wrote.
The Seattle-based Bill and Melinda Gates Foundation is the most influential private foundation in the world, with an endowment of about $65 billion.
Bill Gates has been a vocal proponent for pandemic mitigation measures, specifically access to vaccines and medication for poorer countries.
The Gates Foundation in October said it will spend $120 million to boost access to generic versions of drugmaker Merck’s antiviral COVID-19 pill for lower-income countries.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/10/bill-gates-say-he-has-covid-experiencing-mild-symptoms/ | 2022-05-11T03:51:56Z |
Chick-Fil-A Leader Academy sponsors BHS alumni game to help women in need
The game begins at 7 PM on May 11th. Tickets are $5.
Published: May. 10, 2022 at 1:24 PM EDT|Updated: 10 hours ago
BLUEFIELD, W.Va. (WVVA) - The local Chick-Fil-A Leader Academy at Bluefield High School is doing what it can to give back.
The group is hosting an alumni basketball game on Wednesday, May 11, 2022.
Ticket sales and donations will go to non-profits geared at helping area women in need.
The Chick-Fil-A Leader Academy started in 2013 in Atlanta and has since expanded to thousands of schools across our nation--including Bluefield High School.
According the Chick-Fil-A:
This morning Carley Wimmer & Cailyn Hubbard stopped by WVVA Today to discuss with our Joshua Bolden about their impact project--the alumni game--as well as what being part of the academy has meant to them.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/05/10/chick-fil-a-leader-academy-sponsors-bhs-alumni-game-help-women-need/ | 2022-05-11T03:52:07Z |
Cuba hotel blast toll rises to 43
HAVANA (AP) — The elegant Hotel Saratoga was supposed to reopen in Havana on Tuesday after a two-year pandemic break.
Instead, it has been a day of mourning for the 43 people known to have died in an explosion that ripped the building apart.
A spokesman for the hotel says experts estimate 80% of the hotel was damaged by Friday’s explosion, which hurled tons of concrete chunks into the streets and seriously harmed neighboring structures.
Officials reported Tuesday evening that a 43rd body had been recovered, but it was not immediately known if the latest victim had worked at the hotel.
Earlier, officials said 51 people were working to get the hotel ready for reopening and 23 of them were among the dead. They said three workers remained missing.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/10/cuba-hotel-blast-toll-rises-42-most-hotel-workers/ | 2022-05-11T03:52:13Z |
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